CPP Investments' India Portfolio Crosses $14.77-billion Mark: Report

Canadian fund CPP Investments has hit a milestone in India in the fiscal year ending March this year as its portfolio exceeded  C$20 billion (US$ 14.77 billion) in net assets -- showing a 11 per cent growth of Indian assets since March last year. The firm's net assets in India has crossed Rs 1.3 trillion, per it's annual report. 

The fund invested in VerSe Innovation, IIFL Wealth, Kotak Investment Advisors, National Stock Exchange, ReNew Energy, IndInfravit amongst others in 2023, said a company statement.

 

In FY23, the fund invested in ReNew Energy Global and holds a 51.9 per cent economic stake with $1.33 billion of invested capital. 

It also committed up to $517 million to fund the acquisition of five road concessions and invested $63.5 million  to bring its total stake to 49.9 per cent stake.

 

During the year, it made investments in National Highways Infra Trust , an infrastructure investment trust sponsored by the National Highways Authority of India. This commitment followed an initial $190 million investment in 2021.

The fund also set up a joint venture with TATA Realty and Infrastructure, the real estate and infrastructure development arm of Tata Sons, to develop and own commercial office space across India. The venture aims to exceed $591 million in assets under management.