Canada Pension Plan Investment Board will invest $225 million in India Resurgence Fund (IndiaRF), a distressed asset buyout platform.
CPPIB, through its wholly-owned subsidiary CPPIB Credit Investments Inc, will infuse money into the fund, which was set up by Piramal Enterprises and Bain Capital Credit.
IndiaRF invests in distressed assets by purchasing existing debt and equity securities either through bankruptcy courts or directly from lenders. The fund also has option to invest money through newly-issued securities.
John Graham, Senior Managing Director & Global Head of CPPIB Credit Investments, said the investment in IndiaRF represents an increase in credit commitments in