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Canadian pension funds halt India investments over virus

India Canada city Mumbai virus covid-19 pandemic economy
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The Canada Pension Plan Investment Board (CPPIB) and Caisse de dépôt et placement du Québec (CDPQ) have halted some of their investments in India as Canada’s top two pension funds evaluate the impact of covid-19 on businesses in Asia’s third-largest economy.

Three people aware of the developments said CPPIB has suspended its ₹1,400 crore investment in an arm of Mumbai-based logistics firm JM Baxi.

Separately, CDPQ has put on hold its planned purchase of a portfolio of seven toll roads from Global Infrastructure Partners (GIP), its first acquisition of a roads portfolio in India, as the two parties could not reach an agreement to close the transaction within agreed timelines, the people said, requesting anonymity.

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