CPP Investments, Canada's largest pension fund manager, has committed Rs 18.50 billion ($229 million) to the first close of Kotak Infrastructure Investment Fund (KIIF), according to CPP Investments' second-quarter financial results.
KIIF, a subsidiary of billionaire Uday Kotak's Kotak Investment Advisors (KIAL), provides senior and secured financing to India's operating infrastructure projects.
This will almost certainly be KIAL's second infrastructure fund. The fund's size could not be confirmed immediately.
The investment by CPP Investments is part of its credit investments. Globally, as of the fiscal second quarter ended on 30 September, CPP Investments’ net assets grew to $529 billion, from $523 billion at the end of the June quarter.
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