"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 its President & Chief Executive Officer Mark Wiseman.
He said the Board's long investment horizon aligns to the financing needs of India's economy, business conglomerates and entrepreneurs.
"Our new office at the Bandra Kurla Complex will help us expand CPPIB's global reach, enhancing diversification to help support retirement security for generations of Canadians. We look forward to continuing to expand our footprint in this important market," he said.
Wiseman further said the on-the-ground presence with strong local talent will enable CPPIB to effectively source and manage complex, sizable investment opportunities. Additionally, the proximity to a growing portfolio of global investments helps CPPIB meet its ongoing asset and risk management objectives, he said.
"We have already committed more than USD 2 billion to investments in India across infrastructure, real estate and financial services. 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 said.
CPPIB has so far made investments in entities like Kotak Mahindra Bank, L&T Infrastructure Development Projects, Piramal Enterprises, Shapoorji Pallonji Group and India Value Fund Advisors among others.