PRINT THIS PAGE FountainVest to receive $400m from Canadian investors26/02/2008. Source: AltAssets. 
The Canada Pension Plan Investment Board, the investment management division of the Canada Pension Plan, and Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, are investing $200m each in newly established Chinese private equity fund FountainVest. The CPPIB has also opened an international office in Hong Kong. The CPP Investment Board and Teachers' Private Capital jointly co-sponsored the new fund, which will focus on investing in private enterprises in China.
Mark Wiseman, senior vice-president for private investments with the CPP Investment Board, said, 'We are pleased to be partnering with one of the top fund managers in China, which is itself a rapidly evolving market for private equity. This investment, which is one of our largest in the region, will provide enhanced access to investment opportunities in mainland China through an aligned and well-positioned partner.'
Erol Uzumeri, senior vice-president of Teachers' Private Capital, added, 'We've been an investor in Asia since 1994 and continue to look for opportunities to back the best local teams to help us invest in the region.'
With a presence in Shanghai and Hong Kong, the management team of FountainVest is made up of four professionals with a track record of investing in China and past experience at organisations including Temasek Holdings, Goldman Sachs and J.P. Morgan Partners.
The CPPIB has also opened its first international office in Hong Kong, to focus on investment opportunities in Asia. The Hong Kong team will source private equity and real estate investment opportunities with an initial focus in North Asia, including the China, Hong Kong, Japan, South Korea and Taiwan markets, according to a statement.
David Denison, president and CEO, CPP Investment Board, said, 'We chose Hong Kong as our first overseas office because we believe the long-term growth opportunities in the region are compelling and are aligned with our organisation's long-term investment horizon.
'Hong Kong is the recognized financial hub of Asia. Our presence in this exciting and vibrant market will allow us to build and strengthen relationships with new and existing investment partners in the region as well as provide a window to the expanding investment markets in Asia,' he added.
Both CPPIB and Teachers' Private Capital each have CAN$1bn invested and committed to the Asian region.
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