Canada Pension Plan Investment Board (CPPIB) on Tuesday announced the opening of a new office in India’s financial capital, Mumbai, to focus on investment opportunities across the Indian subcontinent.
From the Mumbai office, the Toronto-based fund manager will focus primarily on growing its portfolio in India, CPPIB says.
“CPPIB has been investing in India since 2010 and we view it 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,” says Mark Wiseman, president and CEO, CPPIB, in a statement.
The fund manager has committed more than US$2 billion to investments in India.
Separately, CPPIB announced it is expanding its investments in the United States, including a US$350-million real estate deal.
The transaction will give CPPIB a 10.6% interest in a joint venture involving various logistics properties, such as warehouses and business parks throughout the United States.
One of its partners in the venture is Global Logistics Properties, which acquired its interest in the portfolio in February 2015.
CPPIB says GLP will continue to manage the portfolio for the joint venture, which includes three other institutional investors that weren’t identified in the announcement.
CPPIB manages a $268.6-billion fund on behalf of Canada Pension Plan.
With files from Canadian Press.