CPPIB invests in Indian logistics company

The Canada Pension Plan Investment Board is investing US$115 million in Delhivery Pvt Ltd., a third-party logistics provider in India.

Delhivery operates supply chain services in more than 2,000 Indian cities. The CPPIB made the investment through its Fundamental Equities Asia group.

“The continued strong growth of e-commerce has generated significant opportunities in India’s express logistics space for long-term investors such as CPPIB, and we are pleased to partner with a market leader,” said Deborah Orida, the CPPIB’s senior managing director and global head of active equities, in a press release. “This investment in Delhivery builds on our Fundamental Equities Asia group’s strategy to provide strategic capital to high-quality companies in the region.”

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The CPPIB’s investments in India across all asset classes totalled $9.9 billion as of June 30, 2019. Once this latest investment is complete, the CPPIB will have one seat on the company’s board.

“CPPIB has been active on the ground in India for nearly a decade and we continue to pursue opportunities to invest in the country as part of our focus on emerging markets,” said Alain Carrier, senior managing director and head of international at the CPPIB. “In Delhivery, we have found a highly reputable partner who fits well with our focus on supporting high-growth businesses.”

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