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.”

Read: India a hot destination for pension fund dollars

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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