The Canadian Pension Plan Investment Board
The Canadian Pension Plan Investment Board, which is also the largest pension fund investor in India currently commanding and managing a staggering sum worth $200 billion in assets globally in a recent move, has announced its plan to set up its office in Mumbai. The fund, which made its first active investment in India in 2010 through a $100 million commitment, has already hired the Kotak Realty Fund Executive, V Hari Krishna as a key member of its Indian team, said official sources claiming that the proposed India office will be the second for CPPIB in an emerging market, indicating the fund's growing focus on India where the economy is expected to turn around after two years of sub-5 per cent growth as CPPIB intends to do direct transaction over the next 12-18 months.

It may be recalled that CPPIB has recently offered to invest around $322 million in India's infrastructure sector through L&T Infrastructure Development Projects, a unit of Larsen & Toubro and also offered another $250 million in a strategic alliance with Piramal Enterprises to provide structured debt financing to residential projects across major urban centers. It has also forged a $200 million strategic alliance with the Shapoorji Pallonji group to acquire stabilized office buildings that are foreign-direct-investment compliant in late 2013. India is a key for the long-term growth market for CPPIB as it has already committed approximately US $1.4 billion to India since 2010 and will continue to look to India for investments matching its long-term investment mandate, said an industry insider. Global pension and sovereign funds have been actively scouting and investing in projects in India's growing real-estate market either by forming joint ventures with builders or via investing directly in the fund.