India Resurgence Fund (IndiaRF), promoted by Piramal Enterprises Ltd and Bain Capital Credit said Canada’s largest pension fund manager Canada Pension Plan Investment Board (CPPIB) has invested $225 million in the fund through its wholly-owned subsidiary – CPPIB Credit Investments Inc. The fund, launched in 2016, looks to invest in distressed assets in the country by purchasing existing debt and equity securities through bankruptcy courts or directly from lenders, or through newly issued securities. It, then, takes control of the turnaround of such assets through recapitalization and operational improvements.

(Live Mint)