Mena News - Turkey: Canada's Pension Funds Launch Private Equity Investment in Turkey
Source: Middle East Insurance Review | Mar 2007
Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan, and the Canada Pension Plan (CPP) Investment Board have announced that they have jointly set up a fund, Actera Partners, in Turkey.
CPP Investment Board says in a statement that the two institutions have committed €75 million (US$98 million) each to Actera Partners, which will focus on buyout and growth equity investments across industries in Turkey, In addition, Actera Partners will seek to partner with Turkish companies to assist in their expansion efforts outside of Turkey.
Mr 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 harmonised with Europe.”