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CPPIB and Piramal Enterprises Strategic Alliance

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CPPIB Credit Investments Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board (CPPIB), and Piramal Enterprises Limited (PEL), one of India’s largest diversified companies has announced a strategic alliance for providing rupee debt financing to residential projects across India’s major urban centers. Indiareit Fund Advisors (Indiareit), the real estate fund management arm of PEL, has been appointed as an advisor. The focus will be on residential developments in Mumbai, Delhi NCR, Bangalore, Pune and Chennai –markets with good civic infrastructure, strong employment and population growth forecasts, which provide favorable absorption dynamics for middle income housing.

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