Canada pension board opens Brazil office, eyes real estate, infrastructure - Reuters
Canada Pension Plan Investment Board said on Wednesday it will open an office in Sao Paulo in April, intent on boosting real estate and infrastructure investments in the region even as money is flowing out of emerging markets, reports Reuters. CPPIB, a global dealmaker intent on diversifying its C$192.8 billion (US$174 billion) portfolio, said the timing for opening its fifth global office is perfect, though it noted competitors like sovereign wealth funds are also hunting similar assets. CPPIB already has offices in Toronto, New York, London and Hong Kong, and Sao Paulo will serve as the hub for its investments in Brazil, Chile, Colombia, Mexico and Peru. CPPIB late last year made its first foray into the Indian real estate market, agreeing to invest US$200 million for an 80 percent stake in a real estate joint venture with India's Shapoorji Pallonji Group.
