APG, Piramal announce strategic alliance

 Piramal Enterprises Ltd. (PEL), one of India’s largest diversified companies, and APG Asset Management, the Dutch pension fund asset manager, has announced a strategic alliance for investing in rupee denominated mezzanine instruments issued by infrastructure companies in India with a target investment of $ 1 billion over the next 3 years. PEL and APG have each initially committed $375 million for investments under this strategic alliance.
This is one of the largest private sector commitments to the infrastructure sector in India and one of the single largest commitments to date by a foreign investor to the infrastructure sector in India.
Ajay Piramal, Chairman, PEL, said, “This is the single largest investment of APG in the unlisted space in India till date and underlines the confidence reposed by institutional investors in Piramal Group’s capabilities.” 

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