Top global investor CPPIB to set up team in India
Mar 10, 2014
Source : The Times of India

 

MUMBAI: Canadian Pension Plan Investment Board (CPPIB), among the largest long-term public and private equity investors managing $200 billion in assets, is set to appoint an India team with a new office in Mumbai later this year.

This will be the marquee investor's only second office in an emerging market and signals reviving sentiments on the India investment story. CPPIB strung together three high-profile deals with Shapoorji Pallonji, Piramal and L&T in the past one year stepping up interest in India's real estate and infrastructure.

The Canadian giant has mandated recruitment firms to finalize India heads for real estate, infrastructure and equities. The first on board will be the real estate head to be followed by the other two. CPPIB could eye investments topping $5 billion in Asia's third largest economy in the next five years, people familiar with the matter said.

CPPIB has five offices in Toronto, London, New York, Hong Kong and Sao Paulo. Last month, it opened in Sao Paulo, Brazil office to spearhead investments in Latin American markets.

The Mumbai and Sao Paulo offices are part of the plans to diversify assets in emerging markets.

"India is a key long-term growth market, as it is aligned with our strategy of seeking investments in emerging markets that we believe will deliver attractive risk adjusted returns. I cannot provide comment on any recruitment efforts that may be occurring at this time," Linda Sims, director, public affairs & communications, CPPIB, said.



The fund mix shows that only $11 billion-or just 6% of the total assets-is invested in Asian markets excluding Japan. Its exposure to emerging market equities is under 7% compared to 35% in foreign developed market equities and 8.4% in Canadian equities.

One of the largest retirement funds, CPPIB has been an indirect investor behind India story for many years, as it backed several private equity funds operating in the country. But its direct entry comes at a time when long-term foreign investors, especially private equity firms, have seen erosion of wealth caused by policy paralysis, slowing economy and declining rupee.

Latest Realty News

The rich home in on safe bets
Mar 10, 2014
MUMBAI: A sprawling estate in the countryside, a heritage bungalow, large tracts of farm land – these may seem the likely investments for high net worth investors (HNIs) seeking property purchases. But with the downturn striking, the truth is that HNIs have been getting pretty conservative with their real estate bets.
Benefits of being a woman property buyer
Mar 10, 2014
DELHI: Being a woman property buyer would mean a special concession with reference to registration of the property in the Office of the Sub-Registrar. The stamp duty payment in many states of India is lower for the woman tax payer. This is the single biggest advantage which is available to the woman tax payer.
Builders create the outdoors in gated residential complexes in Pune
Mar 10, 2014
PUNE: Every evening, homemaker Sanjana Patankar has to coax her eight-year-old son Shriyans to leave the play area nestled in the midst of the six towers that stand tall at the Golden Petals residential complex in Warje. And very often she herself strolls on the neatly cropped lawn adjacent to the play area, chatting up neighbours, before she goes home.
Should you participate in land pooling or not?
Mar 10, 2014
DELHI: Dharamvir Yadav, 35, a resident of Kangan Heri village near Najafgarh, Delhi, is upbeat these days. Ever since the Delhi Development Authority (DDA) began discussions, and subsequently adopted, a land pooling policy, the price of his holdings on Delhi's outskirts has been appreciating. It has risen almost three times in the past oneand-a-half years. Yadav is debating whether to sell his land and cash in on the current upsurge or participate in land pooling. As a growing number of developm
CHD Developers buys 10.5 acres of land in Gurgaon for Rs 300 crore
Mar 10, 2014
DELHI: Realty firm CHD Developers has bought 10.5 acres of land in Gurgaon for about Rs 300 crore to develop a housing project.
Bosch Ltd bets big on energy service business through investments in green buildings
Mar 10, 2014
BANGALORE: Bosch Limited, the Indian subsidiary of the world's biggest supplier of car parts, plans to earn more revenue from its energy solutions business as the company prepares to make it among the three leading players in the country by 2020 and help the company expand its business in the non-auto business.
Devesh Kapur and Arvind Subramanian: A property tax proposal
Mar 08, 2014
DELHI: In our last piece, we had argued that taxation is the economic glue that binds citizens to the state in a necessary two-way relationship ("Taxation's fatal neglect?", January 20). A citizen's stake in exercising accountability diminishes if he does not pay in a visible and direct way - typically via direct taxes or user fees - for the services the state provides. We estimated that a very small percentage of Indians (about 10 per cent) are in this taxpayer accountability relationship with
Slums stunt Niladri Vihar expansion
Mar 08, 2014
BHUBANESWAR: Unauthorized slums at Niladri Vihar in the city have taken sheen off the township set up by Bhubaneswar Development Authority (BDA) in 1990.
Bhubaneswar Development Authority (BDA) bulldozes guesthouse
Mar 08, 2014
BHUBANESWAR: The Bhubaneswar Development Authority (BDA) on Monday began demolishing an 'unauthorized' four-storey guesthouse near Jayadev Vihar here. The structure came up in 2011 in alleged violation of building norms.
BDA to invite applications for 5,000 sites soon
Mar 08, 2014
BANGALORE: Keeping his budget promise, Chief Minister Siddaramaiah on Friday announced that the Bangalore Development Authority (BDA) would call for applications for 5,000 sites in Kempe Gowda Layout by the end of March.

Latest Realty News Of State

Realty Talk's