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Canada Pension Plan to invest US$225M in India distressed assets buyout platform

Canada Pension Plan Investment Board unit CPPIB Credit Investments Inc. committed to invest US$225 million in India Resurgence Fund, a distressed assets buyout platform.

The fund was set up by India's Piramal Enterprises Ltd. and U.S.-based Bain Capital Credit LP to invest in the form of both debt and equity in distress assets in the Indian market. It previously raised US$100 million from the International Finance Corp. via its distressed asset recovery program.

Further, India Resurgence Fund raised capital from other international high-net-worth investors and family offices through the current round.