Caisse de dépôt et placement du Québec (CDPQ), the Canadian institutional fund manager, has recently announced the creation of CDPQ India, based in New Delhi and the appointment of Anita Marangoly George as its Managing Director. Aditionally, CDPQ has announced a new commitment to invest US$150 million in renewable energy in the country.
The appointment of Ms. Anita Marangoly George will play an instrumental role in developing and monitoring CDPQ’s investments in South Asian markets, especially in India. She will establish and maintain close relationships with key public and private institutions to support CDPQ’s investment teams across all asset classes.
CDPQ plans to commit US$150 million to renewable energy investments in India over the next three to four years. CDPQ will use its commitment to target hydro, solar, wind and geothermal power assets, with investments likely to take the form of select partnerships with leading Indian renewable energy companies.
Michael Sabia, President and Chief Executive Officer of CDPQ, said:
“We believe India stands out as an exceptional country to invest in, given the scope and quality of investments opportunities, the potential for strategic partnerships with leading Indian entrepreneurs, and the current government’s intention to pursue essential economic reforms.”
Rashad Kaldany, CDPQ’s Executive Vice-President in growth markets, said:
“With Ms. George’s vast experience in the South Asian business environment, CDPQ will be ideally positioned to identify the right partners and the best opportunities. We are pleased to see Ms. George join our organization and contribute her talent and expertise as a former senior World Bank Group executive to help us implement our investment strategy in India.”
Ms. Anita Marangoly George added:
“I look forward to joining CDPQ India’s office and to contribute to the performance of CDPQ in South Asia, a region that offers attractive investment opportunities in a number of key sectors. I am pleased to combine my knowledge of South Asian markets and my experience in several industries alongside CDPQ’s investment teams to enhance our presence in growth markets.”