CPPIB fund reaches C$366.6bn with 12.6% in real estate
CPPIB’s real estate investment holdings totalled C$46.2bn in June 2018 and made up 12.6% of its $366.6bn portfolio.
The Canada Pension Plan Investment Board fund grew by $10.5bn during the quarter and achieved 10-year and five-year annualised returns of 8.0% and 12.3%, respectively, according to its Q1 results.
Mark Machin, president & chief executive officer, said: “While performance was solid across our investment departments, our private assets did particularly well. Global equity markets maintained positive performance this quarter, contributing to fund growth.”
CPPIB’s real estate investment holdings totalled C$46.2bn in June 2018 and made up 12.6% of its $366.6bn portfolio.
The Canada Pension Plan Investment Board fund grew by $10.5bn during the quarter and achieved 10-year and five-year annualised returns of 8.0% and 12.3%, respectively, according to its Q1 results.
Mark Machin, president & chief executive officer, said: “While performance was solid across our investment departments, our private assets did particularly well. Global equity markets maintained positive performance this quarter, contributing to fund growth.”
It made a number of real asset and infrastructure acquisitions in the quarter to June, including the following:
A C$175m equity target for a 20% interest in the newly established Goodman Brazil Logistics Partnership investing in prime logistics in São Paulo and Rio de Janeiro.
Bought 49% of Enbridge’s interests in North American onshore renewable power assets and agreed to form a partnership to pursue European offshore wind investment.
Acted as anchor investor in the first private infrastructure investment trust in India, known as IndInfravit Trust , investing C$200m for 30% of IndInfravit units.
Entered a JV with GIC to buy Kumho Asiana Main Tower in Seoul, South Korea, for C$510m with each taking a 50% stake in the office tower.
Partnered with ESR and subsidiary Kendall Square Asset Management to invest up to US$500m in a vehicle targeting modern logistics facilities in South Korea.
Bought a prime logistics asset in Northern New Jersey for US$150m through the Goodman North American Partnership with Goodman Group.
Formed a jv with WPT Industrial Real Estate Investment Trust and Alberta Investment Management Corporation to aggregate a portfolio of industrial properties in strategic U.S. logistics markets with an investment target of US$1bn of combined equity.
Formed a JV with Boston Properties and completed the acquisition of Santa Monica Business Park in Santa Monica, California, for US$627.5m. CPPIB will have a 45% ownership in the park.
CPPIB is a professional investment management organisation that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 20m contributors and beneficiaries.
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