<article>The <a href="https://www.dealstreetasia.com/?s=International%20Finance Corporation">International Finance Corporation</a> (IFC), the private investment arm of the World Bank Group, is considering an equity investment of up to $100 million in <a href="https://www.dealstreetasia.com/?s=IndiaRF">India Resurgent Fund</a> (IndiaRF).</article>

The <a href="https://www.dealstreetasia.com/?s=International%20Finance Corporation">International Finance Corporation</a> (IFC), the private investment arm of the World Bank Group, is considering an equity investment of up to $100 million in <a href="https://www.dealstreetasia.com/?s=IndiaRF">India Resurgent Fund</a> (IndiaRF).
IndiaRF is a joint venture between Bain Capital Credit and Piramal Enterprises, and targets the corporate distressed assets market in India. Both Bain and Piramal have made a commitment of $100 million each to the fund, which will focus on making distressed to control investments.
The fund&#8217;s final size is expected to be $1 billion, IFC said.
&#8220;The fund is expected to revitalise a number of distressed companies and provide capital relief to banks, helping resolve NPLs in India,&#8221; the IFC said in a disclosure.
The project will support the implementation of the new regulatory framework and contribute to a more robust distressed asset market, allowing banks to increase lending, IFC added.
IFC will play the role of anchor investor in IndiaRF, helping mobilise capital from the private sector and contributing to the structuring of the fund, while providing its stamp of approval.
One of the fund’s sponsors, Bain is a global private multi-asset alternative investment firms with over $95 billion currently in assets under management and 950 employees across offices in the United States, Europe, Asia and Australia.
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The final size of the fund, a joint venture fund between Bain Capital Credit and Piramal Enterprises, is expected to be $1 billion.

Exclusive: IFC proposes $100m investment in Bain-backed $1b India Resurgent Fund

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Exclusive: IFC proposes $100m investment in Bain-backed $1b India Resurgent Fund

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