The Caisse de dépôt et placement du Québec is teaming up with Piramal Asset Management Private Ltd. to form a US$300 million platform to invest in private credit financing opportunities in India. The Caisse contributed 75 per cent of the financing, with Piramal committing the other 25 per cent.

The platform aims to provide private credit solutions to multiple sectors in India, from manufacturing to pharmaceuticals.

“Piramal Enterprises is a like-minded partner with a solid market position and deep knowledge of India’s industry and financial sector,” said Anita George, executive vice-president and head of strategic partnerships and growth markets, at the Caisse, in a press release. “This is another opportunity for CDPQ to work with the best partners in a market where we see many possibilities over the long term. Through our partnership, we are able to support growing businesses and invest in India’s thriving entrepreneurship.”

Piramal Asset Management Private Ltd. is a wholly-owned subsidiary of Piramal Enterprises Ltd., which the Caisse has partnered with on deals since 2017.