Canada fund shrugs off past experience, renews interest in Indian realty

Canada Pension Plan Investment Board (CPPIB), Canada’s largest pension fund manager, is signing a joint venture (JV) with Indian developer RMZ, despite facing roadblocks in previous JVs in the real estate space.
 
CPPIB had over $475 billion of assets under management globally as of December 31, 2020, and invested in the real estate sector in 20 countries.
 
Three of its Indian partners went ahead and formed similar JVs with other investors in the past.
 
While two of its previous JVs — with Shapoorji Pallonji Group and Ajay Piramal-led Piramal Enterprises — did not take off, another one