Ajay Piramal-led Piramal Enterprises on Thursday said it has formed a strategic partnership with Ivanhoé Cambridge, a real estate subsidiary of CDPQ (Caisse de dépôt et placement du Québec), to provide long-term equity capital to residential developers across five major metros. The development comes after long-drawn talks.
Ivanhoé Cambridge is allocating an initial $250 million for this venture and both would also look at a fresh round of fund raising in the future, said Khushru Jijina, managing director at Piramal Fund Management.
Piramal would commit an additional amount alongside and co-invest between 25 per cent and 50 per cent of
