The Ajay Piramal-led Piramal Group will be floating a $1 billion stressed asset fund in association with Nirmal Gangwal, founder of turnaround company Brescon Corporate Advisors Pvt. Ltd.
The fund will look to invest in stressed assets at a time when the country’s lenders are trying to clean up their balance sheets. This process is likely to throw up opportunities for those willing to put in the capital and management bandwidth required to turn these assets around.
