The Canada Pension Plan Investment Board (CPPIB) has made its first investment in an India-focused private equity fund. The pension fund investor agreed to commit up to $100m to the pharmacy online fund managed by India’s Multiples drugs without a prescription Alternate Asset Management, set up by former ICICI Venture managing director Renuka Ramnath less than a year ago. Multiples said the CPPIB was one of the key investors in the domestic and international fund, reflecting pension funds growing appetite for emerging markets private equity funds. The firm has announced a first close of its first private equity product at $250m
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CPPIB invests US$100m in India fund