Canada based Ontario Teachers Pension Plan ( OTPP), one of the world's largest pension funds is betting big on India to achieve its target of hitting $300 billion in net assets by 2030.
The pension fund giant which has $247.2 bn in net assets ( an increase of $5.6 bn from the year prior) and invests in more than 50 countries across the world, highlighted the role of India in its 2022 annual report .
" We have more than $3 billion invested in India, and it’s one of the key strategic countries we are focused on as part of our strategy to reach $300 billion in net assets by 2030," the report said.
It added, "India is one of the world’s most dynamic economies and a country that offers a rich diversity of opportunities for a long-term investor like Ontario Teachers’. "
As part of its plans, OTPP is also targeting $50 bn in green assets and 50 percent of private investing activity outside North America.
Jo Taylor, President and CEO, OTPP laid out the game plan to tackle climate change in his message.
"As an active and engaged investor, we have an opportunity to play a role in addressing some of the biggest environmental and social challenges of today to deliver value over the long term. In that regard, we are making significant efforts to help tackle climate change and aid the transition to a low-carbon economy. We have a multi-faceted strategy that involves investing in green and transition assets, helping our portfolio companies decarbonize, issuing green bonds to support their funding and more," he said.
In September, the firm opened a new office in Mumbai led by Deepak Dara, Senior MD and Head of India . " India is a large and growing economy, with an openness to foreign capital and growth trends that are aligned with our strengths," Dara said.
The office, the firm's third in the Asia-Pacific region, allows it to build its presence across all asset classes in India with a base to source investments, nurture long-term partnerships and attract strong local talent.
"The founding team of 10 employees in Mumbai is expected to scale further as Ontario Teachers’ investment portfolio grows in the coming years. In 2022, Ontario Teachers’ significantly grew its interests in India – with investments that cover everything from expanding hospitals and healthcare, to supporting solar energy," the annual report further added.
OTPP's 2022 India investments include National Highways Infra Trust, Mahindra Susten and Sahyadri Hospitals.
On 12th July, 2022, Moneycontrol was the first to report that OTPPB was the lead suitor in the sale process of Sahyadri Hospitals.
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