The Ontario Teachers’ Pension Plan is opening a new office in Singapore to enhance its capabilities in Asia Pacific.

As of the end of 2019, the plan had more than 30 employees in the region and about $15 billion invested there across public equity, private equity and infrastructure. “Expanding our presence in Asia is critical to our future growth,” said Ben Chan, regional managing director for Asia at the Ontario Teachers’, in a press release.

Chan will oversee operations in the new office. “Asia Pacific offers numerous emerging and developed markets across two continents,” he said. “Expanding our local capabilities will allow us to further generate returns to deliver on our pension promise.”

The Singapore office is set to target investments across Australia, India, New Zealand and the Association of Southeast Asian Nations, which encompasses 10 countries including Indonesia, Thailand and Vietnam. The Hong Kong office will continue its focus on China, Japan and South Korea.

Bruce Crane, managing director of the team covering infrastructure and natural resources for Asia Pacific, will be based in the new Singapore office and the Ontario Teachers’ equities team will expand its capabilities in the new location.