Piramal Alternatives, a division of the Piramal Group headed by CEO Kalpesh Kikani has set a target to secure $1.5 billion, for investments, in credit within India’s high-yield companies. Given their history of funds and the rapid growth of India’s economy, they are actively looking for international investors to capitalize on the flourishing market.
Piramal Alternatives, under the leadership of its CEO, aims to secure $1.5 billion for investments in high-yield Indian companies through private credit channels.
Piramal Alternatives, a unit of the Piramal Group, helmed by billionaire Ajay Piramal, currently manages four successful private credit funds that have collectively amassed $4 billion. According to Kalpesh Kikani, the Managing Director and CEO of Piramal Alternatives, these funds have consistently delivered impressive annualized returns of over 20%.
Among the four funds are the India Resurgence Fund, which operates in collaboration with Bain Capital, and the Performing Credit Fund, with anchor investment support from the Caisse de dépôt et placement du Québec.
“We plan to deploy the raised funds through our existing funds, offering a reliable private source of capital,” stated Kikani. Piramal Alternatives is actively reaching out to international investors for funds to be utilized in various areas, such as transformation, turnaround, growth capital, and special situations.
The growing Indian economy, which is expected to surpass China and other emerging Asian economies with a projected growth rate of 5.9% this year, as per the International Monetary Fund, has resulted in a surge in demand for private capital.
With India’s economy showing remarkable growth, investments are flowing into the country, making it an opportune time for Piramal Alternatives to seek funding and capitalize on the expansion.
