Canadian pension fund to invest $200 mn in realty JV with Shapoorji

The joint venture will invest in leased, income-producing office buildings, according to a joint statement by the companies issued on Thursday.<br /><br />

hidden November 28, 2013 12:50:57 IST
Canadian pension fund to invest $200 mn in realty JV with Shapoorji

Canada Pension Plan Investment Board (CPPIB) plans to invest $200 million for an 80 percent stake in a joint venture with India's Shapoorji Pallonji Group to buy real estate assets in Asia's third-largest economy.

Canadian pension fund to invest 200 mn in realty JV with Shapoorji

Canadian pension fund to invest $200 mn in realty JV with Shapoorji. AFP

The joint venture will invest in leased, income-producing office buildings, according to a joint statement by the companies issued on Thursday.

With a turnover of $2.5 billion, Shapoorji's businesses include real estate development, construction, infrastructure, biofuels and agriculture, and shipping and logistics.

The Canadian pension fund had assets worth C$192.8 billion as on September 30, of which C$22 billion was invested in real estate.

Reuters

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