**Canada Pension Plan Investment Board’s India Portfolio Hits Record C$30 Billion**
The Canada Pension Plan Investment Board (CPPIB), known as CPP Investments, has reported a remarkable growth in its India portfolio, reaching a record C$30 billion (approximately $22.7 billion) in net assets for the fiscal year 2024-25, according to its latest annual report. This significant milestone highlights the organization’s strategic investments and robust performance in the Indian market.
During the fiscal year, CPP Investments made several key investments, including a notable C$137 million ($100 million) commitment to Kedaara Capital’s new private equity fund and an undisclosed amount in Accel’s eighth venture capital fund. Additionally, the firm invested C$137 million ($100 million) in partnership with PE firm PAG for a 14% stake in the merged entity of Manjushree Technopack and Pravesha. Other investments included C$137 million ($100 million) alongside EQT Private Capital Asia for a 5% stake in Perficient Inc., C$11 million ($8 million) in edtech startup Eruditus, and nearly C$335 million ($244 million) in the National Highways Infra Trust.
In the previous fiscal year, CPP Investments managed assets worth C$28 billion (about $20.3 billion) in India. The organization also reported substantial gains, earning nearly C$298 million ($220 million) from the sale of its 6% stake in logistics company Delhivery, C$71.5 million ($52 million) from its stake in One Paramount 1, and an undisclosed return from a partial stake sale in the National Stock Exchange of India.
Furthermore, CPP Investments’ credit investments in India surpassed C$1.1 billion ($800 million), which included a C$486 million ($353 million) senior secured loan to business outsourcing company Straive, a C$344 million ($250 million) loan facility to Advent International-owned Cohance Lifesciences and Suven Pharma, and a C$255 million ($185 million) investment in a rupee-denominated debt facility for US-based Enfinity Global.
Overall, CPP Investments concluded the fiscal year with net assets totaling C$714.4 billion across all regions, marking an increase from C$632.3 billion the previous year. This C$82.1 billion growth in net assets comprised C$59.8 billion in net income, one of the highest in the organization’s history, alongside net transfers.
John Graham, the president and CEO of CPP Investments, stated, “The fund’s performance during the fiscal year was strong, with all investment departments contributing to one of the highest levels of annual net income in our history, despite market headwinds in the final quarter.” The fund achieved a net return of 9.3% for the fiscal year, driven by strong returns across various asset classes and the strengthening of other currencies against the Canadian dollar.
CPP Investments noted that public equities, particularly in the US and China, yielded gains despite geopolitical and trade-related challenges in the March quarter. Investments in private equity, infrastructure, and credit also positively impacted returns, benefiting from tightening credit spreads. While the organization does not disclose individual country investments annually, the US emerged as its highest-performing market.
**FAQ**
**What is the significance of CPP Investments’ record portfolio in India?**
CPP Investments’ record portfolio in India signifies its strong commitment and strategic focus on the Indian market, reflecting robust growth and successful investment strategies that contribute to its overall financial performance.
