The C$242bn-managing Ontario Teachers’ Pension Plan has launched its first Indian office after idenitifying the country as one of its key growth markets.
Deepak Dara has been named senior managing director and head of India from 2023, with responsibility for accelerating investment activities and enhancing portfolio management in the country.
Dara joined Ontario Teachers’ in 2020 as chief of staff to the CIO. The firm said he had been instrumental in advancing global and cross-asset class initiatives, including the organization’s five-year investment strategy, India strategy and ambition on climate action.
He was previously part of the leadership team of the Boston Consulting Group’s principal investor and private equity practice.
Dara said, “I am very excited to return home and to take on the role of Head of India. I look forward to working with our asset class teams and partners in the region and bringing our global expertise to bear in India.
“The last 12 months saw a marked growth in our investment activities in India, and I am enthusiastic about the opportunity to further build out our presence, networks and capabilities in the country.”
OTPP president and CEO Jo Taylor added, “India is an attractive investment destination and will be one of our growth markets over the next 5 to 10 years.
“It has a large, growing, and dynamic economy, with openness to foreign capital which makes it a strategically important market for us.”
The Mumbai office will target investments in India across all asset classes, including public and private equities, infrastructure, real estate, credit and venture and growth equity.
OTPP’s current India investment portflio totals more than C$3bn, including Edelweiss Alternate Asset Advisors, ChrysCapital, Sahyadri Hospitals Group and VerSe Innovations.
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