Private Equity

Fund News

Special situations-focused IndiaRF to raise $1-B second fund

Economic Times  

India Resurgence Fund (IndiaRF), a special situations investment platform sponsored by Piramal Enterprises and Bain Capital Credit, has started talks with its limited partners (LPs) to raise its second fund, for which it seeks to raise USD 1 Billion. The first fund had a corpus of USD 629 million with two main LPs - Canada Pension Plan Investment Board (CPPIB) and the International Finance Corporation (IFC). CPPIB had committed USD 225 million, while IFC invested USD 100 million. Piramal Group and Bain Capital Credit invested USD 100 million each as sponsors.