The Ontario Teachers' Pension Plan (OTPP) said Tuesday it has appointed Bruce Crane as executive managing director and head of the Asia-Pacific region, effective immediately.
Crane succeeds Ben Chan, who retired earlier this month, Canada's third-largest pension fund said in a statement.
Crane will report to Chief Investment Officer Ziad Hindo and will lead investment activities and portfolio management in Asia-Pacific across Ontario Teachers’ offices in Hong Kong, Mumbai and Singapore. Ontario Teachers’ currently has more than 85 employees in the region.
Crane was hired in 2020 as OTPP’s first Singapore office employee, with a mandate to open and staff an office during lockdown, growing the fund's presence across the region and leading the Infrastructure and Natural Resources portfolio in Asia-Pacific.
He has nearly three decades of experience in public and private markets, investment banking and advisory services in both APAC and the Americas, OTPP said.
“As head of APAC, Bruce will play a leading role as we continue to progress our global growth strategy and deepen our investment activities across the region,” said Hindo.
The appointment comes less than a year after OTPP established its India office, in Mumbai, joining Canadian peers CPPIB and CDPQ in doing so.
The pension fund rapidly stepped up its investments in India last year, to C$3 billion (about Rs 18,000 crore) as at Dec. 31, 2022 as it committed capital in assets ranging from toll roads to hospitals and solar energy projects.
The pension fund manager has previously said India is one of its key focus areas as it aims to increase its net assets globally to C$300 billion by 2030 from C$247.2 billion at the end of 2022.