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Bain & Piramal to launch a $1-bn fund to acquire stressed assets in India

World Bank investing arm IFC to put $100 million in the new fund

stressed assets, Income tax
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Illustration: Ajay Mohanty

T E Narasimhan Chennai
India Resurgent Fund, a Cayman Islands limited partnership and a joint venture between Bain Capital Credit (Bain) and Piramal Enterprises (Piramal) is set to launch a $1-billion fund for investing in distressed assets in the country.

The fund’s size is expected to be $1 billion. International Finance Corporation (IFC), the investing arm of the World Bank, is planning to put around $100 million in the new fund, alongside the sponsors’ investment of $200 million; the rest will come through fundraising, according to IFC.

The two Sponsors of IndiaRF, established in 2016 and headquartered in Mumbai, have an equal commitment of $100 million

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