News
Ivanhoé Cambridge Partners With Piramal On Indian Residential Developments
February 23, 2017
Ivanhoé Cambridge and Piramal Enterprises (the group behind Piramal Aranya Byculla in Mumbai, above) have formed a partnership to provide long-term equity capital to blue chip residential developers in that country’s five major cities: Mumbai, Delhi, Bangalore, Pune and Chennai. Ivanhoé will initially allocate US$250M toward the venture, and PEL said it will co-invest between 25% and 50% of each transaction. "The partnership will enable us to execute on very compelling opportunities to deliver high-quality residential developments in the local markets that we service,” Piramal chairman Ajay Piramal said.
