India: Piramal-Ivanhoe fund cuts first deal with $70m investment in Lodha township

Two years after Piramal Enterprises Ltd (PEL) and Ivanhoé Cambridge, a real estate subsidiary of Canada’s second largest pension fund Caisse de dépôt et placement du Québec (CDPQ) entered into a strategic partnership, the duo on Tuesday announced its first transaction with an investment of ₹500 crore in the Lodha Group’s township project, Palava, in suburban Mumbai.