Equity capital for developers across five major metros
Piramal Enterprises Limited (PE) has announced a strategic partnership with Ivanhoé Cambridge, a real estate subsidiary of CDPQ (Caisse de dépôt et placement du Québec), to provide long term equity capital to blue chip residential developers across five major metro cities, including Delhi NCR, in India.
Ivanhoé Cambridge is allocating an initial US$250m for this purpose. PEL will commit an additional amount alongside and co-invest between 25% and 50% of each transaction. The capital will be made available to a selective list of Grade A developers who have a track record of execution capability.