CPP Investments Makes India Hospitality Debut with Rs 3,000-Cr Prestige Deal
The deal is CPP Investments’ first direct hospitality investment in India and will fund PHVL’s expansion across major gateway cities.
- Canada Pension Plan Investment Board announced a C$441 million investment in Prestige Hospitality Ventures Ltd , acquiring around 27% stake in the Indian hospitality platform to support its continued expansion.
- PHVL owns a portfolio of luxury and premium hotels across India, with properties in major gateway cities including Bengaluru, Chennai, Delhi, Goa, Hyderabad, and Mumbai, positioning the platform for future growth through a substantial development pipeline.
- "Long-Term investment approach complements our development capabilities," said Irfan Razack, CMD, Prestige Group. Hari Krishna, Head of Real Estate India at CPP Investments, cited "compelling opportunities" in India's hospitality sector driven by rising travel demand.
- This deal marks CPP Investments' first direct hospitality investment in India, with the fund managing C$863.6 billion in assets for more than 22 million contributors. It follows similar hotel partnerships in South Korea and Japan announced earlier this year.
- Prestige Group has delivered 319 projects spanning 216 million sq ft and maintains a pipeline of 137 additional projects, viewing hospitality as a key component of its long-term growth strategy to build a scaled portfolio.
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15 Articles
CPP Investments invests ₹3,000 cr in Prestige Hospitality Ventures
Canada Pension Plan Investment Board has acquired a 27% stake in Prestige Hospitality Ventures for ₹3,000 crore, marking its first direct investment in India's hospitality sector to support expansion, following Prestige's withdrawal of its planned IPO.
The Economic Times
Times of IndiaCPP Investments makes India hospitality debut with Rs 3,000-cr Prestige deal
Through the investment, CPP Investments will acquire around 27% stake in PHVL, with the majority of the capital supporting the platform's continued expansion.
CPP Investments Enters India’s Hospitality Sector with Investment in Prestige Hospitality Ventures - CanadianSME Small Business Magazine
Canada Pension Plan Investment Board (CPP Investments) today announced a INR 30 billion (C$441 million) investment in Prestige Hospitality Ventures Limited (PHVL), the hospitality platform of Prestige Estates Projects Limited (Prestige Group), one of India's leading real estate developers. Through the investment, CPP Investments will acquire approximately 27% stake in PHVL, with the majority of
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