Ontario Teachers’ Pension Plan Board (OTPP) has appointed former OMERS Infrastructure managing director Bruce Crane as its first Singapore-based employee to oversee infrastructure and natural resources investments in the Asia-Pacific.
The C$204.7 billion ($156 billion) fund, the administrator of Canada’s largest single-profession pension plan, announced the appointment on August 25 and said Crane will join the firm in the coming months.
Until recently, Crane was leading OMERS’s infrastructure-related efforts in Asia. He moved to Singapore for the role after the pension fund opened an office in the city-state in 2018.
During his stint at OMERS, the pension fund made its first infrastructure investment in India last year, acquiring a 22.4 per cent stake in IndInfravit Trust for $121 million.
Prior to OMERS Infrastructure, Crane spent 10 years with UBS and Morgan Stanley, providing investment banking advisory services.
Meanwhile, OMERS has appointed Prateek Maheshwari as its head of Asia for the infrastructure business, who will relocate to Singapore next year from London.
OTPP, whose APAC headquarters are located in Hong Kong, has previously evinced interest in opening more offices in the region. The pension fund was reportedly scouting for assets in locations including Australia, India and Singapore.
OTPP’s effective net investments in infrastructure as of June 30, 2020, were $16 billion, or 8 per cent of its total asset mix, compared to almost $17 billion by the end of last year, according to its August 25 announcement.