Caisse investing in Indian financial, health-care group

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INVEST text and flag of India on the buttons on the computer keyboard. Business related conceptual 3D rendering © Максим Кузубов /123RF Stock PhotosThe 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.

“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.”

This article originally appeared on CIR’s companion site, Benefitscanada.com. Read the full story here

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