India: Piramal Group, Canadian pension funds in race for GIP road assets

Since 2005, 86 PEs have invested $2.9 billion in highways—there have been only been eight exits worth $25 million. Photo: Pradeep Gaur/Mint

Canadian pension funds CPPIB and CDPQ, and the Piramal Group have entered the final round of bidding to acquire Highway Concessions One (HC1), the roads portfolio of infrastructure fund manager Global Infrastructure Partners (GIP), two people aware of the development said.

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