CPPIB, Canada’s biggest pension fund manager, committed $400 million (Rs 3,320 crore ) to two fund managers in FY24, it said on Wednesday.
CPPIB said it has committed $300 million (Rs 2490 crore) to an India-based asset manager focusing on structured and private credit opportunities in the country, without naming the manager.
It also committed $100 million (Rs 830 crore) to Kedaara Capital Fund IV, which will focus on mid-market buyout and minority growth investments in the country.
CPPIB said it invested Rs 18200 crore in the units of National Highways Infra Trust (NHIT), an infrastructure investment trust sponsored by the National Highways Authority of India. “We have invested Rs 3680 crore in NHIT since 2021 and hold 25% of the units.,” it said.
·CPPIB Invested an additional C$540 million in Interise Trust (formerly known as IndInfravit Trust), its Indian toll roads portfolio company, in which it now owns a 60.8% stake, to help fund the acquisition of four operating road concessions. “In fiscal Q4, we acquired a 50% stake in the Investment Manager of Interise Trust for C$8 million, alongside our partners, OMERS and ACP, who acquired 25% each,” it said.
As of March 31, 2024, it allocated 21% of its funds to Asia Pacific and earned annualised net returns of 4.6% for five years ending March 31, 2024.