Indian billionaire Ajay Piramal to float $1b fund for stressed assets

A file photo of Ajay Piramal. Piramal Capital currently manages assets in excess of Rs.22,000 crore, with specifically tailored investment strategies for real estate, infrastructure and other special situations. Photo: S. Kumar/Mint

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.

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