CPPIB prefers India to China as infrastructure play

Mark Wiseman, who was appointed CEO of the pension fund in February 2012, told The Wall Street Journal that India's infrastructure deficit means it is a more attractive investment destination. The country is rapidly urbanizing and existing road and rail networks and airports struggle to cope with rising demand.

Of CPPIB's $168.8 billion in assets under management, about 6% is deployed in infrastructure. Private equity accounts for a larger portion - 17.1% - and China is expected to continue to feature prominently in this allocation. CPPIB also has a reputation as a keen co-investor alongside its portfolio GPs.

"We are focused first and foremost in expanding our presence and exposure to China," Wiseman said. "The reality is that China is the elephant... it will be the largest economy in the world, the only question is when."

Prior to being named CEO, Wiseman was already building up the fund's China exposure in his capacity as executive responsible for global investment programs. A Hong Kong office opened four years ago and it now houses more than 20 investment professionals, led by Mark Machin, former head of Goldman Sachs' investment banking business in Asia.

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• Topics
• Infrastructure
• Greater China
• South Asia
• LPs
• China
• India
• Infrastructure
• CPPIB