Canada Pension Plan Investment Board (CPPIB), a significant player in the secondaries market, has opened an office in Mumbai to focus on investment opportunities across the Indian subcontinent, according to a statement.
It’s unclear whether there will be any secondaries professionals based in the Mumbai office, but CPPIB’s secondaries team will be able to take advantage of this new presence on the ground if it works on a secondaries deal in the subcontinent.
“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,” said Mark Wiseman, president and chief executive officer of CPPIB.
CPPIB has committed more than $2 billion in Indian infrastructure, real estate and financial services. It has also made primary commitments in funds such as India Value Fund V.
“The opening of an office in Mumbai allows CPPIB to develop local expertise, build important partnerships and access investment opportunities that may not otherwise have been available,” Wiseman added.
CPPIB now has seven offices in cities including Toronto, Hong Kong, London, Luxembourg, New York and São Paulo.