Ontario Teachers’ invests in Indian private credit, Caisse in global port terminals

The Ontario Teachers’ Pension Plan is investing US$350 million with Indian private debt manager Edelweiss Alternate Asset Advisors.

The investment, which establishes a long-term partnership between the pension fund and the debt manager’s parent company Edelweiss Group, will focus on private credit investment opportunities in India.

“We are pleased to enter into a long-term partnership with Edelweiss Group, which has a proven track record and demonstrated ability to originate, underwrite, structure and realize on private credit investments in India,” said Gillian Brown, senior managing director of capital markets at the Ontario Teachers’, in a press release. “This partnership will further expand our presence in, and provide additional insights on, the important Indian market.”

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Ben Chan, the pension fund’s regional managing director for Asia Pacific, added that the investment is part of a long-term strategy to build multi-asset exposure to the country, tapping into its growth potential. “As a global investor, Ontario Teachers’ hopes to leverage our select list of partners including Edelweiss for local insights and acumen as we navigate to grow profitably in this important market.”

In other investment news, the Caisse de dépôt et placement du Québec is expanding its investment program with Dubai Ports World, an infrastructure-led supply chain solutions provider based out of the United Arab Emirates.

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The new commitment of US$4.5 billion increases the total size of the investment platform to US$8.2 billion, with DP World retaining a 55 per cent share and the remaining 45 per cent controlled by the Caisse.

Since the program launched in December 2016, it’s invested in 10 port terminals globally. With the influx of capital, the program is set to expand its geographic footprint into new regions of Europe and Asia Pacific, as well as diversifying into a broader set of investments within the integrated marine supply chain, including logistics services linked to terminals, according to a press release.

“Building on the success of the first collaboration with our strategic partner DP World, a world-class leader in ports and marine terminals, the enhanced platform will seek investments in high-quality port and terminal infrastructure assets that will help design the future of smart trade and logistics,” said Emmanuel Jaclot, executive vice-president and head of infrastructure at the Caisse, in the release.

Read: Why big pension funds love Australian ports