CPP Investments Scores One of its Highest Net Incomes of C$59.8 Bn

Canada Pension Plan Investment Board (CPP Investments) ended its fiscal year on March 31, 2025, with net assets of C$714.4 billion, compared to C$632.3 billion at the end of fiscal 2024. The C$82.1 billion increase in net assets consisted of C$59.8 billion in net income and C$22.3 billion in net transfers from the Canada Pension Plan (CPP).

Here are some of the India-specific transaction highlights for the year:

Completed a follow-on investment of INR 20.8 billion (C$346 million) in the units of National Highways Infra Trust (NHIT), an Infrastructure Investment Trust sponsored by the National Highways Authority of India. Since their initial investment in 2021, they have invested INR 57.6billion (C$960 million) to date.

Committed C$185 million in an Indian Rupee-denominated debt facility to Enfinity Global to build 1.2-gigawatts of solar and wind power plants in India. Based in the U.S., Enfinity Global is a renewable energy and sustainable services company with a large portfolio of solar, onshore wind and battery storage assets across the U.S., Europe, and Asia, in various stages of development.

Invested US$100 million for an approximate 14% stake alongside PAG in the combined company of Manjushree Technopack and Pravesha, creating a diversified market-leading rigid plastic packaging player in India.

Exited their approximate 6% stake in Delhivery, India’s largest integrated third-party logistics service provider. Net proceeds from the sale were C$298 million. Their initial investment in the company was made in 2019.

Additionally, key highlights overall:

Net income of C$59.8 billion, one of the highest levels in their history

Net annual return of 9.3% in fiscal 2025

Net annual return of 14.2% in calendar 2024

10-year net return of 8.3%

Cumulative net income of C$492.1 billion since inception in 1999