• DATVF.LAXSEA
    2.069
    0.058
    2.9%
  • DATVF.ATLPHL
    1.629
    -0.042
    -2.5%
  • DATVF.VEU
    1.437
    -0.059
    -3.9%
  • DATVF.SEALAX
    1.005
    0.060
    6.3%
  • DATVF.VNU
    1.412
    0.002
    0.1%
  • DATVF.DALLAX
    0.905
    -0.007
    -0.8%
  • DATVF.CHIATL
    1.751
    -0.149
    -7.8%
  • DATVF.VWU
    1.537
    0.059
    4%
  • DATVF.VSU
    1.262
    0.007
    0.6%
  • DATVF.PHLCHI
    0.929
    0.012
    1.3%
  • DATVF.LAXDAL
    1.619
    0.020
    1.3%
  • ITVI.USA
    9,700.980
    -17.990
    -0.2%
  • OTRI.USA
    5.250
    0.020
    0.4%
  • OTVI.USA
    9,691.410
    -18.120
    -0.2%
  • TLT.USA
    2.580
    -0.010
    -0.4%
  • WAIT.USA
    150.000
    0.000
    0%
  • DATVF.LAXSEA
    2.069
    0.058
    2.9%
  • DATVF.ATLPHL
    1.629
    -0.042
    -2.5%
  • DATVF.VEU
    1.437
    -0.059
    -3.9%
  • DATVF.SEALAX
    1.005
    0.060
    6.3%
  • DATVF.VNU
    1.412
    0.002
    0.1%
  • DATVF.DALLAX
    0.905
    -0.007
    -0.8%
  • DATVF.CHIATL
    1.751
    -0.149
    -7.8%
  • DATVF.VWU
    1.537
    0.059
    4%
  • DATVF.VSU
    1.262
    0.007
    0.6%
  • DATVF.PHLCHI
    0.929
    0.012
    1.3%
  • DATVF.LAXDAL
    1.619
    0.020
    1.3%
  • ITVI.USA
    9,700.980
    -17.990
    -0.2%
  • OTRI.USA
    5.250
    0.020
    0.4%
  • OTVI.USA
    9,691.410
    -18.120
    -0.2%
  • TLT.USA
    2.580
    -0.010
    -0.4%
  • WAIT.USA
    150.000
    0.000
    0%
Asia-PacificCanada

Canada’s largest public pension fund invests $115 million in Delhivery

The investment arm of the Canada Pension Plan has taken a US$115 million stake in the Indian logistics firm Delhivery

The Canada Pension Plan Investment Board (CPPIB) will get a seat on Delhivery’s board as part of the deal, which was announced Sept. 9.

The investment from CPPIB marks an important step for Delhivery, a third-party logistics provider that surpassed the $1 billion valuation mark earlier this year. CPPIB is one of the world’s largest sovereign wealth funds, managing more than C$400 billion for Canada’s largest public pension plan. 

While Delhivery represents a tiny portion of CPPIB’s portfolio, including nearly C$10 billion in India alone, it exposes the fund to a rapidly growing sector.

“The continued strong growth of e-commerce has generated significant opportunities in India’s express logistics space for long-term investors such as CPPIB, and we are pleased to partner with a market leader,” Deborah Orida, senior managing director and global head of active equities for CPPIB, said in a statement. 

Delhivery provides logistics services across India, including parcel, truckload and less than truckload. The company said it completed its 500 millionth shipment recently. 
Indian regulators approved the deal in August.

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Nate Tabak, Canada Correspondent

Nate Tabak is a Toronto-based journalist who covers Canada for FreightWaves. He spent seven years as an investigative reporter, producer and editor based in Kosovo. He previously worked at newspapers in the San Francisco Bay Area, including the San Jose Mercury News. He graduated from UC Berkeley.

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