Canada Pension Plan Investment Board (CPPIB), a pension fund manager, plans to invest in Indian healthcare to life sciences company Piramal Group’s infrastructure-focused platforms.
Piramal’s plan to set up an aggregation-cum-investment platform for roads and renewable energy assets will see a total investment of nearly $2 billion.
The company has tied up investments from CPPIB and another large European institutional backer. Piramal also intends to bring on board two or three more backers.
Piramal aims to invest about $1 billion in buying solar and wind assets under the renewable platform, whereas it will infuse between $800 million to $1 billion under the roads platform.