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CPP Investments makes India hospitality debut

economictimes.indiatimes.com · 3h · first reportShare

MUMBAI: Canada Pension Plan Investment Board (CPP Investments) has invested Rs 3,000 crore or C$441 million in Prestige Estates Projects’ hospitality platform Prestige Hospitality Ventures Ltd (PHVL).Through the investment, CPP Investments will acquire around 27% stake in PHVL, with the majority of the capital supporting the platform's continued expansion.“We see compelling opportunities in India's hospitality sector, driven by rising travel and a demand for quality accommodation…This investment offers an opportunity to participate in the sector's long-term growth through a well-positioned platform, while seeking to generate attractive risk-adjusted returns for CPP contributors and beneficiaries,” said Hari Krishna, Head of Real Estate India & Mumbai Office Head at CPP Investments.This marks CPP Investments’ first direct investment in India’s hospitality sector and builds on its growing hospitality exposure across Asia Pacific, including recent investments in Japan and Korea.Also read