Dutch pension fund manager APG Asset Management and Indian healthcare company Piramal Enterprises (PEL) will secure about $500 million for their new second fund to invest in infrastructure projects in India.
Initially, PEL, a unit of Piramal Group, and APG, part of APG Groep NV, had each committed $375 million for investments under the strategic alliance.
In 2016, APG and Piramal Enterprises announced an investment of $132 million in solar platform run by Essel Infrastructure Ltd across India.
In 2014, the two entities also announced a joint corpus of $750 million for the first fund, most of which has already been invested.