Piramal in JV talks with CDPQ arm for realty PE fund

Joint venture to set up fund with corpus of $250 million

After announcing its plans for housing loans and small and medium enterprise finance, the Ajay Piramal-controlled financial services arm, Piramal Finance, is giving final touches to a joint venture (JV) in real estate private equity. And, might follow with a new corpus in  the infrastructure investment platform this year.
 
Piramal Finance is set to sign a JV this month with Ivanhoe Cambridge, real estate arm of Canada’s second largest pension fund manager CDPQ, said a source in the know. This JV will provide equity capital to developers and the corpus would be around $250 million (Rs 1,700 crore), says