Piramal Alternatives, a subsidiary of the Piramal Group owned by billionaire Ajay Piramal, is gearing up to raise a substantial $1.5 billion. The funds will be invested in India’s high-yield companies through private credit, as confirmed by the company’s CEO, Kalpesh Kikani, BNN reports.
What Happened? Piramal Alternatives currently oversees four existing private credit funds that have collectively amassed $4 billion (₹32,739 crore), with their returns exceeding 20% on an annualized basis. These funds include the India Resurgence Fund, a joint venture with Bain Capital, and the Performing Credit Fund, with the Caisse de depot et placement du Quebec as a significant investor.
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With India’s economy predicted to grow by 5.9% this year, faster than China and the average growth of other emerging economies in Asia, the demand for private capital has significantly escalated. This promising growth is drawing more inflows into the country, positioning Piramal Alternatives for potential success in their venture.
The company’s initiative to raise $1.5 billion (₹12,277 crore) for investment in India’s high-yield companies signals robust confidence in the future of the Indian economy. As India continues to outpace other emerging economies, it will attract more capital inflow, benefiting companies like Piramal Alternatives.
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