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.