The Caisse de dépôt et placement du Québec is acquiring US$250 million in convertible debentures from Piramal Enterprises Ltd.
The Indian financial and industrial group is active in financial services, pharmaceutical development and manufacturing and health-care information management. The pension fund’s real estate subsidiary, Ivanhoé Cambridge, initially invested in the organization in 2017 through a residential real estate co-investment platform.
Read: Ivanhoé Cambridge invests $330M in Indian real estate
“We are delighted to deepen our partnership with Piramal Enterprises, a company whose value creation approach aligns well with CDPQ’s long-term objectives and perspective as a global institutional investor,” said Anita M. George, executive vice-president and head of strategic partnerships, growth markets at the Caisse.
“This transaction further demonstrates CDPQ’s commitment to invest in different sectors of India’s economy.”