Ontario Teachers' Pension Plan opens office in Mumbai

27 Sep 2022 , 01:08 PM

The largest Canadian pension fund, Ontario Teachers, is establishing its first office in India in Mumbai, according to a news release from the investment management firm.

It will be the pension fund’s third office in the Asia-Pacific region and sixth overall when it opens in Mumbai’s Bandra Kurla complex.

India is a desirable location for investments and will be one of our expanding markets over the next five to ten years. Its economy is big, expanding, and dynamic, and it is open to foreign investment, making it a strategically significant market for us, according to Jo Taylor, president, and chief executive officer.

By the end of 2022, Ontario Teachers’ Mumbai branch will have a founding staff of about 10 team members, made up of a combination of local talent and transfers from its other offices. As the investment portfolio of Ontario Teachers expands in the upcoming years, this presence is anticipated to grow even more.

Early in 2023, Deepak Dara will assume the duties of Senior Managing Director and Head of India.

Keki Mistry, vice chairman, and chief executive officer of Housing Development Finance Corporation Limited (HDFC Ltd.), has committed to serve as a senior advisor to Ontario Teachers’, the fund added in its news release. In the banking and financial services industries, Mistry has nearly four decades of top leadership experience.

A little bit over $2 billion is the estimated value of Ontario Teachers’ Indian investment portfolio. It has invested in an Edelweiss debt fund platform. It has investments in ChrysCapital and Kedaara Capital private equity funds. Additionally, it has made investments in infrastructure, including one in the green energy platform of Mahindra Susten and the roads platform of KKR. In addition to owning an interest in VerSe Innovations, the parent company of the news app Dailyhunt, it recently purchased a share in Sahyadri Hospitals.

Assets worth $177 billion, acquired through working and retired teachers’ savings, are managed by Ontario Teachers. The goal of the asset management company is to generate profits on the investments to guarantee the teachers’ retirement income.

It makes investments across more than 50 nations in a variety of assets, including infrastructure, real estate, commodities, public and private stocks, fixed income, credit, and fixed income and private equity.

There are locations in Toronto, Hong Kong, London, San Francisco, and Singapore. 350 investment experts work there.

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