Caisse de dépôt et placement du Québec (CDPQ), a global institutional investor, and Piramal Asset Management Private Ltd., a wholly owned subsidiary of Piramal Enterprises Limited (PEL), have announced a platform of $300 million to target private credit financing opportunities in India. CDPQ is contributing 75% of the investment and Piramal, the remaining 25%.

“The platform will offer private credit solutions to companies across various industries in India, including manufacturing, consumer, industrial, healthcare, pharmaceuticals, logistics, among others. This partnership is aligned with both CDPQ’s investment strategy in a country with significant long-term economic growth potential and Piramal’s direct lending strategy to mid-market companies and major corporations,” PEL said.

“This platform aims to leverage the significant market opportunity for alternative pools of capital to provide valuable solutions in the private credit space,” said chairman Ajay Piramal.

“This is another opportunity for CDPQ to work with the best partners in a market where we see many possibilities over the long term,” said Anita M. George, executive V-P and Head of Strategic Partnerships, Growth Markets at CDPQ.

“Through our partnership we are able to support growing businesses and invest in India’s thriving entrepreneurship,” she said. The partnership will focus on performing credit and look to invest in companies with a scalable business model that have demonstrated strong execution capabilities, robust cashflows and a validated repayment history and that requires capital to support continued growth of their businesses, said Khushru Jijina, MD, Piramal Capital & Housing Finance Ltd.