Toronto, Canada (November 7, 2023) – Canada Pension Plan Investment Board (CPP Investments) announced today it has completed the sale of a diversified portfolio of 20 limited partnership fund interests in mostly North American and European buyout funds to Ardian, a world-leading private investment house, managing or advising US$156 billion of assets, headquartered in France.
CPP Investments’ net proceeds from the transaction, after certain costs and adjustments, were approximately C$2 billion.
“This transaction was undertaken as part of our active portfolio management activities. As a systematic buyer and seller in the secondaries market, we see this sale as an attractive opportunity to optimize the construction of our portfolio and to allow us to further support future investments,” said Suyi Kim, Senior Managing Director & Global Head of Private Equity, CPP Investments.
The portfolio of fund interests represents various commitments made by CPP Investments over the course of approximately 20 years.
About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 21 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. CPP Investments operates in a transparent and open way, consistently demonstrating our commitment to accountability in our practices and actions. For the past two years, CPP Investments has been recognized by the Global Pension Transparency Benchmark as one of the top three funds globally for transparency and accountability. At June 30, 2023, the Fund totalled C$575 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or Twitter.
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