Canadian LPs Launch Turkish Fund

Teachers' Private Capital and the Canada Pension Plan Investment Board have formed Actera Partners, a private equity fund focused on investment opportunities in the Republic of Turkey. As cornerstone investors, the two institutions each have committed Euro 75 million.

 

Press Release:

 
Ontario Teachers' Pension Plan and CPP Investment Board Launch Private Equity Fund in Turkey
TORONTO — Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, and the Canada Pension Plan Investment Board announced today that they have jointly led the establishment of Actera Partners, the largest private equity fund to date exclusively focused on investment opportunities in the Republic of Turkey. As cornerstone investors, the two institutions have committed (euro)75 million each to Actera Partners.

Actera Partners represents a unique opportunity for Teachers' and the CPP Investment Board to partner with a high quality private equity team in order to capitalize on the opportunities created by Turkey's emerging economic potential and its continued drive to modernize its financial and regulatory structures.

Actera Partners' investment strategy focuses primarily on buyout and growth equity investments across a broad range of industries in Turkey. In addition, Actera Partners will seek to partner with Turkish companies in order to assist in their expansion efforts outside of Turkey. The fund expects to have raised (euro)250 million by mid-2007.

Actera Partners is led by Isak Antika and Murat Cavusoglu who have both built up successful track records in principal investing and investment banking in Turkey and the surrounding region.

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 harmonized with Europe.”

Mark Wiseman, Senior Vice-President – Private Investments, CPP Investment Board, commented: “We are also pleased that Actera Partners is being led by two strong investment professionals with broad experience in both Turkey and the international business community. The leadership shown by two leading Canadian institutional investors in emerging private equity is important recognition of the benefits that can be achieved by taking a truly global approach to our investment mandates.”

About Ontario Teachers' Pension Plan

Teachers' Private Capital is the private investment arm of the C$100 billion Ontario Teachers' Pension Plan, an independent corporation responsible for investing the fund and administering the pensions of Ontario's 264,000 active and retired teachers. With more than C$13 billion in assets, Teachers' Private Capital is one of North America's largest private investors, providing equity and mezzanine debt capital for large and mid-cap companies, venture capital for developing industries, and financing for a growing portfolio of infrastructure and timberland assets worldwide. www.otpp.com

About the CPP Investment Board

The CPP Investment Board invests the funds not needed by the Canada Pension Plan to pay current benefits. With a mandate from the federal and provincial governments, the CPP Investment Board is accountable to Parliament, to the federal and provincial finance ministers who serve as the stewards of the CPP and to 16 million contributors and beneficiaries. Based in Toronto, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2006, the CPP fund totalled C$103.3 billion. For more information about the CPP Investment Board, visit www.cppib.ca .

Deborah Allan, Director, Communications and Media Relations, Ontario Teachers' Pension Plan, (416) 730-5347, deborah_allan@otpp.com; May Chong, Director, Communications, CPP Investment Board, (416) 868-8657, mchong@cppib.ca