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Ontario Teachers', CPP Investment Board establish private equity fund in Turkey07/02/2007. Source: AltAssets. 
 Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, and the Canada Pension Plan Investment Board have jointly led the establishment of Actera Partners, a private equity fund exclusively focused on investment opportunities in the Republic of Turkey. As cornerstone investors, the two institutions have committed €75m each to the new fund, which expects to have raised €250m by mid-2007.
Jim Leech, senior vice president of Teachers' Private Capital, said, 'Turkey is an attractive private equity market, with a large and growing population, a high number of quality mid-market businesses, and a developing economy which is expected to benefit from becoming increasingly harmonized with Europe.'
Mark Wiseman, senior vice president - private investments, CPP Investment Board, added, 'We are also pleased that Actera Partners is being led by two strong investment professionals with broad experience in both Turkey and the international business community. The leadership shown by two leading Canadian institutional investors in emerging private equity is important recognition of the benefits that can be achieved by taking a truly global approach to our investment mandates.'
Actera Partners will focus primarily on buy-out and growth equity investments across various industry sectors in Turkey. In addition, the fund will seek to partner with Turkish companies in order to assist in their expansion efforts outside of Turkey.
Teachers' Private Capital is the private investment arm of the Can$100bn Ontario Teachers' Pension Plan, an independent corporation responsible for investing the fund and administering the pensions of Ontario's 264,000 active and retired teachers. With approximately Can$13bn in assets, Teachers' Private Capital is one of North America's largest private investors, providing equity and mezzanine debt capital for large and mid-cap companies, venture capital for developing industries, and financing for a growing portfolio of infrastructure and timberland assets worldwide.
The CPP Investment Board invests the funds not needed by the Canada Pension Plan to pay current benefits. With a mandate from the federal and provincial governments, the CPP Investment Board is accountable to parliament, to the federal and provincial finance ministers who serve as the stewards of the CPP and to 16 million contributors and beneficiaries. At 30 September 2006, the CPP fund totalled Can$103.3bn.
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