Ontario Teachers’ Pension Plan will disband its Singapore-based Asia real estate team by the end of next year, further paring its physical presence in the region.
“This change simplifies our operating structure in real estate,” a spokesperson for the Canadian pension fund said about its plan to wind down the Asia division. OTPP will transition oversight of its property investments in Asia to its Toronto office, and affected staffers in Singapore will either relocate there “or leave the organization in phases,” the spokesperson said.