Canada fund opens first overseas office (hktdc.com)

The Canada Pension Plan Investment Board, the investment management organisation that invests the reserve fund assets of the Canada Pension Plan, has opened an office in Hong Kong to focus on investment opportunities in Asia.

"We chose Hong Kong as our first overseas office because we believe the long-term growth opportunities in the region are compelling and are aligned with our organisation's long-term investment horizon," said CPP Investment Board President and CEO David Denison. "Hong Kong is the recognised financial hub of Asia. Our presence in this exciting and vibrant market will allow us to build and strengthen relationships with new and existing investment partners in the region as well as provide a window to the expanding investment markets in Asia."

The CPP Investment Board team in Hong Kong will source private equity and real estate investment opportunities with an initial focus in North Asia including the China, Hong Kong, Japan, South Korea and Taiwan markets. The Board also announced that it has made a US$200 million investment in Fountainvest, a newly-established private equity fund focused on investing in private enterprises in China.

"This investment in China illustrates the importance of the new office and underscores the CPP Investment Board's commitment to the region," added Mr Denison. "As a global investor, the opening of our office in Hong Kong is the next natural step as we grow our organisation internationally. Having a team of investment professionals on the ground in Hong Kong with deep local knowledge of the region will enable us to identify new investment opportunities that align with our long term horizon."

The Hong Kong office is operational in March 2008. A second CPP Investment Board office will open later this year in London.