Read about the activities of CPPIB, from our inception to the present.
Nov 28, 2013
Toronto, Canada/Mumbai, India (November 28, 2013): Canada Pension Plan Investment Board (CPPIB) and Shapoorji Pallonji Group today announced the formation of a strategic alliance to acquire foreign direct investment (FDI)-compliant, stabilized office buildings in the major metropolitan areas of India. CPPIB will own 80% of the venture with an initial equity commitment of US$200 million.
Nov 10, 2013
Toronto, ON, Canada (November 10, 2013): Canada Pension Plan Investment Board issued a joint ASX release with DEXUS Property Group today. Below follows the release.
Recommended proposal to acquire Commonwealth Property Office Fund:
DEXUS Property Group (“DEXUS”) refers to its announcement on 11 October 2013 in relation to the indicative, non-binding proposal (the “Proposal”) made jointly with Canada Pension Plan Investment Board (“CPPIB”) (together the “Consortium”) to Commonwealth Managed Investments Limited (“CMIL”) the Responsible Entity of the Commonwealth Property Office Fund (“CPA”) to acquire all of the issued units in CPA.
 Other than those to which DEXUS is already entitled under DEXUS’s forward contract with Deutsche Bank AG, announced
to the ASX on 25 July 2013. If the Recommended Proposal proceeds, DEXUS currently intends to take early delivery of those CPA Units under the forward contract. However, DEXUS reserves the right to cash settle the forward instead of taking early delivery. If it does so, the Recommended Proposal will relate to 100% of the units in CPA.
Oct 31, 2013
London, U.K. (October 31, 2013): Hermes Real Estate Investment Management Limited (HREIML) and Canada Pension Plan Investment Board (CPPIB) have today announced the acquisition of Aldgate House, London, EC3 as part of their 50:50 office joint venture. The deal marks the partnership’s first purchase following its formation in July.
Oct 25, 2013
LOS ANGELES & TORONTO – October 25, 2013 – Ares Management LLC and Canada Pension Plan Investment Board (CPPIB) announced today that their affiliates have completed the acquisition of Neiman Marcus Group LTD Inc. for a purchase price of approximately US$6.0 billion.
Oct 07, 2013
Toronto, ON, Canada (October 7, 2013): Intu Properties plc (Intu) and Canada Pension Plan Investment Board (CPPIB) have together entered into a joint partnership agreement to acquire Parque Principado Shopping Centre, Oviedo, a 75,000m2 (approximately 800,000 sq ft) prime regional retail destination in Asturias, Northern Spain.
Oct 03, 2013
The Honourable Jim Flaherty, Minister of Finance, today announced the appointment of Kathleen Taylor to the board of directors of the Canada Pension Plan Investment Board (CPPIB).
“Ms. Taylor’s global operational expertise and significant financial services board experience will make her a solid contributor to the Board,” said Minister Flaherty. “I wish her all the best in her new role.”
Ms. Taylor was most recently the President and Chief Executive Officer of Four Seasons Hotels and Resorts, having served in successively more senior positions over her almost 24-year career with the company. Ms. Taylor is also a Director of the Royal Bank of Canada (RBC) and has been appointed as the Chair Designate by the RBC Board effective January 1, 2014. She also serves as a Director of the Hospital for Sick Children Foundation in Toronto.
Among her many accolades, Ms. Taylor has received the Schulich School of Business Award for Outstanding Executive Leadership and the inaugural Medal for Career Achievement from the Hennick Centre for Business and Law at York University.
Sep 04, 2013
Toronto, ON, Canada (September 4, 2013): Canada Pension Plan Investment Board (CPPIB) announced today that it has acquired a 50% interest in the Samsung SRA Private Real Estate Investment Trust No. 4, a single asset fund which owns a high-quality Grade A office development property in Seoul, South Korea. CPPIB’s equity commitment for its interest will be
KRW 126 billion (C$118.6 million).
Jul 29, 2013
Sherbrooke (Quebec), July 29, 2013 – Ivanhoé Cambridge continues to execute its investment plan for Quebec with the acquisition of a 50% interest in Carrefour de l’Estrie, the largest shopping centre in Quebec’s Eastern Townships region. This interest has been acquired from the Canada Pension Plan Investment Board (CPPIB) which will continue to own 50% of the shopping centre. This transaction represents a new Canadian regional mall joint venture formed by the two companies.
Jul 16, 2013
Calgary, Alberta - TORC Oil & Gas Ltd. (“TORC” or the “Company”) (TSX:TOG) is pleased to announce a $510 million acquisition of low decline, high netback, light oil producing assets (the “Acquired Assets”) in southeast Saskatchewan (the “Acquisition”) and a strategic transition of the Company’s business model to an intermediate light oil producer paying sustainable dividends while also delivering disciplined per share production growth. In conjunction with the Acquisition, TORC has secured a cornerstone equity investment by the Canada Pension Plan Investment Board (“CPPIB”) for $170 million through a private placement of subscription receipts (the “CPPIB Investment”) and has entered into an agreement for a $210 million bought deal prospectus offering of subscription receipts (the “Bought Deal Financing”) (together with the CPPIB Investment, the “Financings”) offered through a syndicate of underwriters (the “Underwriters”) as described below, for total gross equity proceeds of $380 million.
Jul 10, 2013
Toronto, Canada (July 10, 2013): Goodman Group (Goodman or Group) and Canada Pension Plan Investment Board (CPPIB) are pleased to announce a US$500 million increase to their equity allocation to Goodman China Logistics Holding (GCLH), with US$400 million contributed by CPPIB and US$100 million by Goodman.
Jun 10, 2013
Oxford Acquires 50% Interest in Les Galeries de la Capitale in Quebec City
CPPIB Acquires 50% Interest in Upper Canada Mall in Newmarket, ON
TORONTO, ONTARIO (June 10, 2013) – Oxford Properties Group ("Oxford") and CPP Investment Board (“CPPIB”) today announced the expansion of their 50%/50% Canadian retail joint venture that will see two regional malls added to the JV, one contributed by each partner. As part of the transaction, Oxford has acquired a 50% interest in the 1.5 million square foot Les Galeries de la Capitale shopping centre in Quebec City from CPPIB. CPPIB has acquired a 50% interest in the approximately 1 million square foot Upper Canada Mall, in Newmarket, Ontario, from Oxford.
May 22, 2013
New initiative seeks to enable a move to longer-term mindsets
TORONTO, ON (May 22, 2013): Speaking at the Institute of Corporate Directors annual conference, Mark Wiseman (President and CEO, CPPIB) and Dominic Barton (Global Managing Director, McKinsey & Company) called on business leaders to focus their thinking and actions on long-term value creation.
May 16, 2013
$21.7 Billion Increase in Assets
TORONTO, ON (May 16, 2013): The CPP Fund ended its fiscal year on March 31, 2013 with net assets of $183.3 billion, compared to $161.6 billion at the end of fiscal 2012. The $21.7 billion increase in assets for the year consisted of $16.2 billion in net investment income after operating costs and $5.5 billion in net CPP contributions. The portfolio delivered a gross investment return of 10.1% for fiscal 2013.
May 03, 2013
(May 3, 2013): Canada Pension Plan Investment Board (CPPIB) announced today it has formed a new 50%/50% joint venture with Hammerson to acquire a 33.3% stake in Bullring Shopping Centre for £307 million from the Future Fund.
Mar 19, 2013
Sydney, Australia (March 19, 2013): In remarks today to the Canadian Australian Chamber of Commerce, Mark Wiseman, President and CEO, CPP Investment Board (CPPIB) highlighted the importance of long-term thinking and long-term investors to the global economy and society.
Feb 15, 2013
$5 Billion in Investment Income Toronto, ON (February 15, 2013) - The CPP Fund ended the third quarter of its 2013 fiscal year on December 31, 2012 with net assets of $172.6 billion, compared to $170.1 billion at the end of the previous quarter. The $2.5 billion increase in net assets after operating expenses resulted from $5.0 billion in investment income and $2.4 billion of seasonal cash outflows. The CPP Fund routinely receives more CPP contributions than are required to pay benefits during the first part of the calendar year and then remits a portion of those funds for benefit payments in the latter part of the year. The portfolio had a gross investment return of 3.0% for the quarter.
Nov 25, 2013
TORONTO, ON (November 25, 2013): Mark Wiseman, President & Chief Executive Officer, CPP Investment Board (CPPIB), is pleased to announce the following appointments among CPPIB’s senior management team.
Nov 08, 2013
TORONTO, ON (November 8, 2013): The CPP Fund ended the second quarter of its 2014 fiscal year on September 30, 2013 with net assets of $192.8 billion, compared to $188.9 billion at the end of the previous quarter. The $3.9 billion increase in assets for the quarter consisted of $3.3 billion in net investment income after operating costs and $0.6 billion in net CPP contributions. The portfolio delivered a gross investment return of 1.8% for the quarter.
Oct 25, 2013
Toronto, ON, Canada (October 25, 2013): Canada Pension Plan Investment Board (CPPIB) announced today that it has formed a venture with Banco BTG Pactual S.A. (BTG) to invest in residential development opportunities in Brazil. CPPIB has committed an equity investment of US$240 million for a 40% interest in the venture and BTG has committed to making an equal investment. BTG will act as the investment advisor and manage the day-to-day affairs of the venture, while CPPIB will have a seat on the investment committee which approves all investments made by the venture.
Oct 10, 2013
Toronto, ON, Canada (October 10, 2013): Canada Pension Plan Investment Board issued a joint ASX release with DEXUS Property Group today. Below follows the release.
DEXUS Property Group (“DEXUS”) today announced that, with Canada Pension Plan Investment Board (“CPPIB”) (together the “Consortium”), it has made an indicative, non-binding proposal (the “Proposal”), to the responsible entity of Commonwealth Property Office Fund (“CPA”), Commonwealth Managed Investments Limited (“CMIL”), to acquire all of the issued units in CPA, other than those to which DEXUS is already entitled, by way of an informal trust scheme.
Oct 03, 2013
CALGARY, ALBERTA, October 3, 2013, Cequence Energy Inc. (“Cequence” or the “Company”) (TSX: CQE) is pleased to announce that it has entered into definitive documentation and expects to complete later today a transaction (the "Transaction") with CPPIB Credit Investments Inc., (“CII”), a wholly-owned subsidiary of Canada Pension Plan Investment Board (“CPPIB”), for an initial investment by CII of $60 million in unsecured five year notes (the “Notes”) with a further $60 million of notes available at a future date, subject to the approval of both CII and Cequence on terms to be confirmed at the time of issuance. In addition, Cequence has granted CII 3.0 million warrants to purchase common shares (the "Warrants"). The investment will allow Cequence to capitalize on its recent successes at Simonette and accelerate the development of this project.
Sep 09, 2013
LOS ANGELES & TORONTO — September 9, 2013 — Ares Management LLC and Canada Pension Plan Investment Board (CPPIB) announced today that their affiliates have entered into a definitive agreement to acquire Neiman Marcus Group LTD Inc. from a group of investors led by TPG and Warburg Pincus for a purchase price of US$6.0 billion. A portion of the purchase price will be used at the closing to repay all amounts outstanding under the Company’s existing credit facilities other than its Debentures. Ares and CPPIB will hold an equal economic interest in the legendary retailer, and the Company’s management will retain a minority stake. The transaction is expected to close in the fourth quarter of 2013, subject to regulatory approvals and other customary closing conditions.
Aug 09, 2013
TORONTO, ON (August 9, 2013): The CPP Fund ended the first quarter of its 2014 fiscal year on June 30, 2013 with net assets of $188.9 billion, compared to $183.3 billion at the end of the previous quarter. The $5.6 billion increase in assets for the quarter consisted of $1.9 billion in net investment income after operating costs and $3.7 billion in net CPP contributions. The portfolio delivered a gross investment return of 1.1% for the quarter.
Jul 29, 2013
Toronto, ON, Canada (July 29, 2013): Canada Pension Plan Investment Board (CPPIB) announced today that it has signed an agreement to acquire a 27.6% interest in Aliansce Shopping Centers S.A. from General Growth Properties, Inc. for an equity amount of US$480 million. The transaction is expected to close in fall 2013.
Jul 11, 2013
Toronto, Canada (July 11, 2013): Hermes Real Estate Investment Management Limited (“Hermes”), on behalf of The BT Pension Scheme (“BTPS”), and Canada Pension Plan Investment Board (“CPPIB”) announced today that they have formed a 50:50 joint venture partnership that will initially include eight Central London office assets from BTPS’ existing portfolio. CPPIB will invest £173.9 million to acquire a 50 per cent interest in this core-plus/value-add portfolio, with the assets primarily located in London’s West End. The portfolio comprises 550,000 square feet of high quality offices, retail and ancillary accommodation.
Jun 28, 2013
TORONTO, ONTARIO (June 28, 2013) – Canada Pension Plan Investment Board (CPPIB) announced today that it has acquired a 100% interest in One Queen Street East and the adjoining 20 Richmond Street East property from Ontario Pension Board (OPB) for cash and other consideration valued at a total of $220 million.
Jun 06, 2013
TORONTO, ONTARIO (June 6, 2013) – Canada’s ten largest public pension funds, dubbed “the Top Ten,”provide Canadians with one of the strongest retirement income systems in the world and also contribute significantly to national prosperity, a new study concludes.
May 08, 2013
Toronto, ON/Norwalk, CT (May 8, 2013): Canada Pension Plan Investment Board (CPPIB) and GE Capital Real Estate (GECRE) announced today the recent formation of the Tokyo Office Venture (TOV) targeting investment in mid-size Class A-B offices in key Central Business District sub-markets.
Apr 19, 2013
The undersigned institutions, which collectively steward assets of $916 billion are duly concerned by the decision of Barrick Gold Corporation to award an $11.9-million bonus payment to the co-Chairman John L. Thornton appointed in June 2012. This amount for a signing bonus for a co Chairman of the Board is, to our knowledge, unprecedented in Canada and is in addition to other compensation for the year for a total package of $17 million in 2012. This compensation is not consistent with the governance principle of pay-for-performance and is therefore disproportionate. It sets a troubling precedent in Canadian capital markets.
Mar 05, 2013
Toronto, ON (March 5, 2013) - Acquires Portfolio of Quality Food Assets and Becomes Lead Investor in New Kainos Capital Partners Fund Canada Pension Plan Investment Board (CPPIB) announced today that it has completed a secondary transaction whereby CPPIB will invest the capital required to acquire a portfolio of primarily food assets through a special purpose vehicle. The assets are being acquired from the HM Capital Sector Performance Fund and related co-investors for US$468 million.
Jan 17, 2013
Seeks To Invest Up To $2 Billion Initially in Middle Market and Non-Traditional Corporate Credit Opportunities Sourced Through Platform Toronto, ON (January 17, 2013) - New York, NY and Toronto, ON, January 17, 2013 - Stone Point Capital ("Stone Point") and KKR & Co. L.P. (NYSE: KKR) today announced the addition of CPPIB Credit Investments Inc. (“CPPIB Credit”), a wholly-owned subsidiary of Canada Pension Plan Investment Board ("CPPIB"), as a joint venture partner and investor in MerchCap Solutions LLC (“MCS” or the "Company"), formerly known as KKR-SPC Merchant Advisors LLC. Formed in August of 2012, the Company provides principal and agency-based capital markets services to sponsor-backed and corporate mid-market companies as well as principal investments to support its client needs.