Ontario Teachers chasing investment bets in Indian clean energy space

Ontario Teachers’ Pension Plan (Ontario Teachers), one of Canada’s largest single-profession pension plans, is actively scouting for investment opportunities in India’s green energy and airport space, said two people aware of the development.

This marks the pension fund joining marquee names such as Canada Pension Plan Investment Board (CPPIB), Caisse de dépôt et placement du Québec (CDPQ), Public Sector Pension Investment Board and Ontario Municipal Employees’ Retirement System (OMERS) in investing in India’s clean energy economy as the sector has emerged as a global investment hot-spot.

Earlier this month, Ontario Teachers along with AustralianSuper, Australia’s largest superannuation and pension fund, made a $2 billion commitment in National Investment and Infrastructure Fund Ltd (NIIF). These include commitments of $250 million each into NIIF’s master fund, and co-investment rights of up to $750 million each in future opportunities alongside the master fund.

In response to specific queries from Mint, a spokesperson for Ontario Teachers in an emailed statement said, “We will not be commenting on any individual investment opportunities in India at this time.”

“We are very pleased to be investing in the NIIF, which represents our first investment in Asian infrastructure. As the world’s sixth-largest economy and with one of the fastest global growth rates, we believe that India represents a key market for Ontario Teachers’ global strategy. It has an active infrastructure market that we believe will provide significant opportunities to diversify our global portfolio,” added Ben Chan, regional managing director, Asia Pacific, Ontario Teachers’ Pension Plan, in the emailed statement.

“The NIIF is an ideal partner for Ontario Teachers. We are strongly aligned through our shared focus on patient, long-term investing. A key component of our strategy is working with experienced partners like the NIIF, whose deep local knowledge and relationships complement our successful 18-year track record of direct infrastructure investing,” said Dale Burgess, senior managing director, infrastructure and natural resources, Ontario Teachers’ Pension Plan, in the emailed statement.

These Canadian pension funds also represent the so-called patient capital, which seeks modest yields over time. India fits the risk profile given that the markets here have matured from the early risk stage. Also, India’s green energy tariffs have hit a record low, making access to cheap funds a key criterion for success.

This article was first published on livemint.com

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.