Canadian Pension Plan to set up team in India
Canadian Pension Plan Investment Board (CPPIB) is set to appoint an India team with a new office in Mumbai later this year. The board manages $200 billion in assets. This is the second office of the Canadian giant in the emerging markets and signifies reviving sentiments on the India investment story. In the past one year CPPIB struck details with Shapoorji Pallonji, Piramal and L&T, showing huge interest in real estate in India. CPPIB is looking at investments more than $5 bn in the coming 5 years, people familiar with the matter said.
It has five offices in Toronto, London, New York, Hong Kong and Sao Paulo. The office in Sao Paulo, Brazil was opened last month to spearhead investments in Latin American markets. As of now, only 6% of the total assets are invested in Asian markets excluding Japan.
CPPIB has earlier backed several private equity funds operating in the country.
Source: The Times of India
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