Canadian pension fund Ontario Teachers’ Pension Plan Board (OTPP) has officially opened its Singapore office to accelerate investments in India, Australia, New Zealand, and Southeast Asia.
The new office is located at Asia Square Tower 2 and will be overseen by Ben Chan, OTPP’s regional managing director for Asia, the fund said in a statement on Monday. “Expanding our presence in Asia is critical for our future growth,” Chan said in the statement.
The Singapore office marks OTPP’s second physical presence in the Asia Pacific (APAC) after it opened its regional headquarters in Hong Kong in 2013.
The new office will target investments across India, Australia-New Zealand (ANZ), and ASEAN, while the Hong Kong office will continue to focus on North Asia markets including Greater China, South Korea, and Japan.
Last month, the Canadian pension fund announced the appointment of Bruce Crane as its managing director to lead the APAC infrastructure and natural resources practice. Crane is the pension fund’s first Singapore-based staffer and joined OTPP from the Ontario Municipal Employees Retirement System (OMERS).
OTPP said it will expand the Singapore team to cover private capital direct investing and high-conviction equities.
In addition, the C$205 billion ($156 billion) fund has expanded its Hong Kong-based innovation platform team, which focuses on late-stage venture investments and growth equity investments in technology companies.
OTPP revealed that it is also adding a senior member of the fund’s global strategic relationships department in APAC. “The individual will develop and cultivate key partnerships in the region and assure that teams work across asset classes to enhance deal flow and strategic positioning,” the Toronto-based fund said.
The OTPP fund had over 30 employees and around C$15 billion invested in APAC as of December 31, 2019. “Asia Pacific offers numerous emerging and developed markets across two continents. Expanding our local capabilities will allow us to further generate returns to deliver on our pension promise,” Chan said.
“We look forward to growing our team in the coming months and see this as a great opportunity to attract new regional talent as well as bring in existing global talent,” he added.
Since last year, OTPP has expressed its interest in having more offices across APAC.
Other Canadian pension plans, including OMERS and Canada Pension Plan Investment Board (CPPIB) are also ramping up their activities in the region.
OMERS has appointed new hires at its Singapore office which was opened in 2018. Meanwhile, CPPIB has deployed both fund commitments and direct investments in the region, and recently added former Temasek International executive Boon Sim to its board of directors.