CPPIB all set to open its office in India: Hires the head from Kotak fund
There is some good news for India Inc. as the Canada Pension Plan Investment Board (CPPIB), the giant pension fund that makes private-equity investments, plans to open an office in India. CPPIB has hired Kotak Realty Fund executive V Hari Krishna as a key member of its local team.
Krishna was a director in Kotak fund for more than nine years and he is expected to spearhead the entire new venture. He is expected to join CPPIB in the coming month and the job market is abuzz with the news as there will be jobs created in this sector. The reason for choosing Krishna also depended on the fact that he has also worked at real-estate consultancy firms in the past. Hence his knowledge in real estate coupled with his financial acumen is expected to bring good business to CPPIB.
The proposed India office will be the second for CPPIB in an emerging market. This indicates that the fund’s growing focus is on India where the economy is expected to turn around after two years of lower than 5 % growth.
The sources close to these developments stated that the India office will be set up in Mumbai in the next 2-3 quarters and CPPIB intends to do direct transaction over the next 12-18 months. They also explained that the fund has been looking to hire heads for real-estate, infrastructure and equities for India.
Global pension and sovereign funds have been actively scouting and investing in projects in India’s growing real-estate market by forming joint ventures with builders or investing in the fund. AmbarMaheshwari the managing director -corporate finance at property consultancy JLL India stated that these funds have been investing in India for some time through third-party managers.
Source- The Economic Times
Canada Pension Plan Investment Board, CPPIB, cppib india, CPPIB Indian real estate, Kotak Fund
