Canada Pension Plan Investment Board (CPPIB) has opened its first India office in Mumbai and is set to grow the team in coming years, it said on Tuesday. This is the fund’s seventh office overseas.
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CPPIB has already invested $2 billion in India since it first started investing in the country in 2010.
“We view India as a key growth market that aligns with our strategy of seeking investments in markets that we believe will deliver attractive long-term risk-adjusted returns”, said Wiseman.
“Our investment in one of the largest and most diverse industrial portfolios in the USA enables us to build scale in this sector with high-quality, well-located assets”, said Peter Ballon, Managing Director, Head of Real Estate Investments Americas, CPPIB. As with the others, the office in India will allow the pension giant’s management team to develop local expertise and partnerships, and will provide access to investment opportunities that “may not otherwise have been available”, said chief executive Mark Wiseman.
He is a leading consultant for the pension board on all the major investments in India.
The sourced linked with the matter also claimed that although the fund would be owned by the government but the fund house would be operating as a private entity which would be designated to manage the new inflow of about C$5 billion per year which would be taken from about 1.9 crore employees and many other retirees from Canada. These investments represent 16.3 per cent of CPPIB’s total assets as of June 30, 2015. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments.
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Geographically, it has 38 per cent of its assets in the United States, 24 per cent in Canada and about eight per cent in Asia (excluding Japan).
