CPPIB's India portfolio touches $22 billion in FY25
The Canada Pension Plan Investment Board (CPPIB), operating as CPP Investments, saw its India portfolio touch a record C$30 billion (about $22.7 billion) in net assets in 2024-25, showed its latest annual report.
Its key investments of the fiscal year were $100 million (C$137 million) in private equity fund Kedaara Capital's new fund and an undisclosed amount in venture capital firm Accel's eighth fund.
It also infused $100 million (C$137 million) alongside PE firm PAG for about a 14% stake in the combined entity of Manjushree Technopack and Pravesha.
It invested another $100 million (C$137 million) alongside EQT Private Capital Asia for a 5% stake in Perficient Inc., $8 million (C$11 million) in edtech startup Eruditus, and nearly $244 million (C$335 million) in National Highways Infra Trust.
The investment company had assets under management (AUM) worth C$28 billion (about $20.3 billion) in India in 2023-24.
It also made handsome gains during the year. It earned nearly $220 million (C$298 million) in net proceeds from the sale of its 6% stake in logistics company Delhivery, $52 million (C$71.5 million) in net proceeds from its stake sale in One Paramount 1, and an undisclosed return from a partial stake sale in National Stock Exchange of India.
Its credit investments in India also crossed over $800 million (C$1.1 billion), including a $353 million (C$486 million) transaction in the extension of a senior secured loan to business outsourcing company Straive; $250 million (C$344 million) in a loan facility to Cohance Lifesciences and Suven Pharma, combined and owned by Advent International; and a $185 million (C$255 million) investment into an India rupee dominated debt facility for the US-based Enfinity Global.
Overall, it ended the fiscal year with net assets of C$714.4 billion across all geographies, compared to C$632.3 billion last fiscal year. The C$82.1 billion increase in net assets consisted of C$59.8 billion in net income, one of its highest in history, and the remaining in net transfers.
'The fund's performance during the fiscal year was strong, with all investment departments contributing to one of the highest levels of annual net income in our history, despite market headwinds in the final quarter,' said its president and chief executive, John Graham. The fund generated a net return of 9.3% for the fiscal year.
With strong returns across multiple asset classes, the strengthening of other countries against the Canadian dollar was a significant contributor to the investment firm's gains through the year.
CPP Investments noted that public equities, especially in the US and China, delivered gains despite geopolitical and trade-related headwinds in the March quarter.
Other investments in private equities, infrastructure, and credit, which benefited from tightening credit spreads, also contributed positively to the returns.
While CPP does not disclose individual country investments by the year, the US was its highest-performing market, with a net return of 12.7% year-on-year, followed by Europe (8.8%), Canada (8.1%), and Asia Pacific (7.3%).
However, it booked a loss of 1.6% in Latin America due to a weak Brazilian real against the Canadian dollar and losses in Brazilian public equity investments, particularly in the energy sector.
It started operations in India in 2009 with its inaugural investment in Multiples Equity and opened its first office in Mumbai six years later.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
15 minutes ago
- Mint
Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on June 8
Gold, silver prices in your city, June 8: Gold prices have moderated after weak US economic data ahead of the Federal Reserve's near-term interest rate decision and amid news of US President Donald Trump's phonecall with Chinese counterpart Xi Jinping. According to Prathamesh Mallya, DVP- Research, Non-Agri Commodities and Currencies at Angel One, the yellow metal is still shining bright due to status of the Russia-Ukraine war and uncertainty over the US-China tariffs. Jigar Trivedi, Senior Research Analyst at Reliance Securities noted that investors will also be 'closely monitoring' the developments between Donald Trump and Elon Musk. Overall, experts feel that commodities (gold and silver) have emerged as the safe haven investment in these volatile markets, but caution must be maintained. In terms of returns, over the past year along, gold cost has jumped 30 per cent, returned 15 per cent CAGR since 2001; and since 1995, has beaten inflation by over 2-4 per cent, data shows. Prices opened higher/lower today at 7.20 am on June 8. The MCX gold index was at ₹ 97,250/10 gm, the official website showed. Meanwhile, MCX silver prices were at ₹ 96,039/kg, it showed. Further, 24-carat gold was priced at ₹ 97,000/10 gm, according to data on the Indian Bullion Association (IBA) at 7.20 am on June 8. Further, 22-carat gold was priced at ₹ 88,917/10 gms. And, silver prices today are at ₹ 96,110/kg (Silver 999 Fine), as per the IBA website. So, check here for prices of gold and silver in your city today on June 8 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you. Gold bullion rates in Mumbai — ₹ 96,970/10 gm. 96,970/10 gm. MCX Gold rate in Mumbai — ₹ 97,051/10 gm. 97,051/10 gm. Silver bullion rate in Mumbai — ₹ 1,05,700/kg. 1,05,700/kg. MCX Silver 999 rate in Mumbai — ₹ 1,05,525/kg. Gold bullion rates in New Delhi — ₹ 96,800/10 gm. 96,800/10 gm. MCX Gold rate in New Delhi — ₹ 97,051/10 gm. 97,051/10 gm. Silver bullion rate in New Delhi — ₹ 1,05,520/kg. 1,05,520/kg. MCX Silver 999 rate in New Delhi — ₹ 1,05,525/kg. Gold bullion rates in Kolkata — ₹ 96,840/10 gm. 96,840/10 gm. MCX Gold rate in Kolkata — ₹ 97,051/10 gm. 97,051/10 gm. Silver bullion rate in Kolkata — ₹ 1,05,560/kg. 1,05,560/kg. MCX Silver 999 rate in Kolkata — ₹ 1,05,525/kg. Gold bullion rates in Hyderabad — ₹ 97,120/10 gm. 97,120/10 gm. MCX Gold rate in Hyderabad — ₹ 97,051/10 gm. 97,051/10 gm. Silver bullion rate in Hyderabad — ₹ 1,05,870/kg. 1,05,870/kg. MCX Silver 999 rate in Hyderabad — ₹ 1,05,525/kg. Gold bullion rates in Chennai — ₹ 97,250/10 gm. 97,250/10 gm. MCX Gold rate in Chennai — ₹ 97,051/10 gm. 97,051/10 gm. Silver bullion rate in Chennai — ₹ 1,06,010/kg. 1,06,010/kg. MCX Silver 999 rate in Chennai — ₹ 1,05,525/kg. Gold bullion rates in Bengaluru — ₹ 97,040/10 gm. 97,040/10 gm. Gold rate in Bengaluru — ₹ 97,051/10 gm. 97,051/10 gm. Silver bullion rate in Bengaluru — ₹ 1,05,790/kg. 1,05,790/kg. MCX Silver 999 rate in Bengaluru — ₹ 1,05,525/kg. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
2 hours ago
- Time of India
Pottery gains popularity among youth as creative outlet & stress relief
Pune: The world of ceramics and pottery is gaining popularity among youth as a creative outlet, combining art, sustainability and self-expression, offering a refreshing escape from their hectic lives. Tired of too many ads? go ad free now IT professional Dhaval Narvekar, a resident of Wanowrie, said, "Pottery is not easy and requires a lot of focus. It helps me de-stress. I enrol in regular workshops to learn different techniques of pottery and have created a small collection of my own." Camp resident Leena D'Souza said she was introduced to pottery at a flea market last year and has continued to pursue it since then. "There was a potter's wheel at one of the flea markets that I visited last year. I now attend regular classes at a pottery studio to pursue it as a full-time profession," she said. The tactile experience of working with clay, the joy of crafting functional and beautiful pieces, and the meditative quality of slow craftsmanship are attracting many young people to ceramics and pottery for its therapeutic benefits. Magarpatta-based ceramics artist Sneha Virwani said she has been holding hand-building pottery workshops for enthusiasts. "Working with stoneware clay, we create hand-pinched pottery that gives each piece a natural, unique shape. Often, it's the imperfections or cracks that add beauty to the pottery," Virwani said. Ceramics have diverse applications, from functional items like cups and plates to decorative wall hangings. Mumbai-based artist Dishaa Kapoor, founder of Matrika Pottery Studio, caters to enthusiasts aged 30-60. "Pottery is like meditation, helping you disconnect from routine. Tired of too many ads? go ad free now It combines art and science, requiring knowledge of materials, oxides, firing and glazing," she said. Increased accessibility has sparked youth interest in pottery and ceramics. Shibani Dhavalikar, a Kothrud-based ceramics artist, said, "Earlier, kiln access was a major hurdle, requiring significant investment. Now, we teach techniques like over-glaze decoration, where students learn to paint on ceramics and fire them to achieve desired results." Pune: The world of ceramics and pottery is gaining popularity among youth as a creative outlet, combining art, sustainability and self-expression, offering a refreshing escape from their hectic lives. IT professional Dhaval Narvekar, a resident of Wanowrie, said, "Pottery is not easy and requires a lot of focus. It helps me de-stress. I enrol in regular workshops to learn different techniques of pottery and have created a small collection of my own." Camp resident Leena D'Souza said she was introduced to pottery at a flea market last year and has continued to pursue it since then. "There was a potter's wheel at one of the flea markets that I visited last year. I now attend regular classes at a pottery studio to pursue it as a full-time profession," she said. The tactile experience of working with clay, the joy of crafting functional and beautiful pieces, and the meditative quality of slow craftsmanship are attracting many young people to ceramics and pottery for its therapeutic benefits. Magarpatta-based ceramics artist Sneha Virwani said she has been holding hand-building pottery workshops for enthusiasts. "Working with stoneware clay, we create hand-pinched pottery that gives each piece a natural, unique shape. Often, it's the imperfections or cracks that add beauty to the pottery," Virwani said. Ceramics have diverse applications, from functional items like cups and plates to decorative wall hangings. Mumbai-based artist Dishaa Kapoor, founder of Matrika Pottery Studio, caters to enthusiasts aged 30-60. "Pottery is like meditation, helping you disconnect from routine. It combines art and science, requiring knowledge of materials, oxides, firing and glazing," she said. Increased accessibility has sparked youth interest in pottery and ceramics. Shibani Dhavalikar, a Kothrud-based ceramics artist, said, "Earlier, kiln access was a major hurdle, requiring significant investment. Now, we teach techniques like over-glaze decoration, where students learn to paint on ceramics and fire them to achieve desired results."
Time of India
2 hours ago
- Time of India
India a must at G7 table: Mark Carney on inviting PM Modi
NEW DELHI: Canadian PM Mark Carney defended the last-minute invitation to his counterpart Narendra Modi for the , saying it made sense for Canada and other members to invite the "5th largest economy" and the most populous country in the world that's central to a number of supply chains. Tired of too many ads? go ad free now While Modi's travel programme is not finalised yet, he's expected to reach Alberta in time for the G7 outreach session on June 17. Other G7 members keen on seeing Modi's participation, hints Carney The G7 summit begins on June 15. Asked repeatedly about why Canada would have Modi over when the probe into the killing of Khalistan separatist Hardeep Singh Nijjar is still on, Canadian PM Mark Carney said there had been progress on law enforcement dialogue which "recognises issues of accountability". Carney's predecessor Justin Trudeau had wrecked the India-Canada relationship by alleging the Indian govt's role in the murder without, as India continues to maintain, sharing any evidence. "Bilaterally, we have now agreed-importantly-to continued law enforcement dialogue. So, there's been some progress on that, which recognises issues of accountability. I extended the invitation to Prime Minister Modi in that context, and he has accepted,'' said Carney, responding to questions from the media about the issue and the invitation to Modi. "We are a country of the rule of law. The rule of law is proceeding as it should in Canada, and I am not going to disrupt that process,'' he added. Carney hinted that other G7 members were keen on seeing participation by the Indian leader. "First, we are in the role - Canada is in the role - of the G7 chair, and in those discussions, as agreed with our G7 colleagues, we're addressing important issues like energy security, the digital future, and critical minerals, among others. Tired of too many ads? go ad free now Partnerships in building infrastructure in the emerging and developing world are also part of the agenda,'' he said. "In my capacity as G7 chair, and in consultation with others - some of whom also make these determinations - it makes sense to include India, the fifth-largest economy in the world, effectively the most populous country, and central to a number of those supply chains,'' he added.
