CPPIB boosts real estate assets to £27.4bn

Canada Pension Plan Investment Board has reported an 8.5% increase in real estate assets under management to C$46.2bn (£27.4bn) in the three months ended 30 September. The pension fund ended the period with total net assets of C$541.5bn, up from C$519.6bn at the end of the previous quarter. The majority are held in public and private assets, with just over C$111bn held in real assets. CPPIB pointed to its investment of C$169m into a joint venture with CSI Properties in Hong Kong to redevelop a mixed-use scheme in Kowloon as one of its real estate highlights during the period under review. Since the end of the period the pension has also provided an initial investment of €475m (£406m) into a new joint venture with Round Hill Capital to invest in purpose-built student accommodation across continental Europe, committed C$1.3bn to a fourth logistics jv with GLP in Japan and provided more than €200m in financing to RFR, a real estate owner and operator working across the United States and Germany. To send feedback, e-mail samantha.mcclary@eg.co.uk or tweet @samanthamcclary or @EGPropertyNews