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Real Assets

By applying our comparative advantages – scale, certainty of assets and our long investment horizon – our teams pursue the best opportunities worldwide.

Holdings

Energy & Resources
Infrastructure
Power & Renewables
Real Estate

Focused on direct private investments in the oil and gas, energy midstream, merchant power and LNG, refining and petrochemicals, mining and services, technology, and innovation industries.

Our Investments

Investing in large-scale infrastructure businesses that provide essential services from a significant real asset base.

Our Investments

Focused on taking advantage of growing market opportunities as the energy sector transitions and global power demand grows.

Our Investments

Investing in commercial real estate through joint ventures with best-in-class operating partners.

Our Investments

Black Swan Energy

Location: Calgary, AB, Canada
CPPIB Ownership: 28.4%
Investment: C$245 million
Date of initial investment: 2011

Black Swan Energy is a Calgary-based private energy company focused on early-entry Western Canadian resource plays. The company has a significant land position in the Montney play in northeast British Columbia and the Duvernay play in central Alberta, which are being developed.

Website

Calpine

Location: Houston, TX, United States
Investment:  US$750 million
Date of investment: 2017

Calpine is one of the largest independent power generators in the United States, with 80 power plants in operation or under construction with the capacity to generate approximately 26,000 megawatts of electricity from geothermal and natural gas resources – enough to power approximately 20 million homes. Calpine’s 13 geothermal geyser assets in northern California are one of the largest sources of renewable energy in the state. Calpine also sells electricity to residential, commercial and industrial customers through the Calpine Solutions and Champion Energy retail platforms.

Website

ChargePoint

Location: United States
Date of investment: December 2019

ChargePoint has been committed to making it easy for businesses and drivers to go electric since 2007, with the largest EV charging network and most complete set of charging solutions available today. From workplaces to fleet, residential to retail, ChargePoint is creating the new fueling network to move all people and goods on electricity. The company offers a diverse portfolio of charging solutions in every category EV drivers charge, at home, work, around town and on the road, along with a suite of software and cloud services designed to optimize the user experience and make driving electric more seamless than ever. Hundreds of thousands of drivers and thousands of businesses and organizations around the world count on ChargePoint.

Website

Crestone Peak Resources

Location: Denver, CO, United States
CPPIB Ownership: 95%
Investment: US$813 million
Date of initial investment: 2016

Crestone Peak Resources is a Denver-based, private oil and gas company with assets in the core of the Wattenburg field in the DJ Basin.

Website

Encino Acquisition Partners

Location: Houston, TX, United States
Commitment: US$1 billion

Encino Acquisition Partners is an investment vehicle founded by Canada Pension Plan Investment Board and Encino Energy LLC focused on acquiring large, high-quality assets with an established base of production in mature basins across the lower 48 states of the United States. The partnership closed its first transaction in October 2018 with the privately negotiated purchase of Chesapeake Energy’s Ohio Utica assets for US$2.0 billion.

Website

Ohio Valley Midstream JV

Partner: The Williams Companies, Inc.
Location: Ohio, West Virginia and Pennsylvania, United States
CPPIB Ownership: 35%
Investment: US$1.3 billion
Date of initial investment: 2019

Ohio Valley Midstream JV includes 100% of both the Utica East Ohio and Ohio Valley Midstream systems, which provide natural gas gathering, processing and fractionation services in Ohio, West Virginia and Pennsylvania.

Williams is a premier provider of large-scale infrastructure connecting U.S. natural gas and natural gas products to growing demand for cleaner fuel and feedstocks. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams owns and operates more than 30,000 miles of pipelines system wide and handles approximately 30 percent of U.S. natural gas.

Quantum Utility Generation

Location: Houston, TX, United States

Quantum Utility Generation is an operating company with the capabilities to build, buy, manage, optimize and sell power generation assets across multiple fuel types.

Website

Seven Generations

Location: Calgary, AB, Canada
Total Investment: C$523 million
Date of initial investment: 2014

Seven Generations Energy Ltd. is a private oil and gas company focused on resource plays in North America, including shale gas, tight gas, tight oil and oil sands.

Website

Teine Energy

Location: Calgary, AB, Canada
Investment: C$1.3 billion
Date of initial investment: 2011

Teine Energy is a private company focused on acquiring and developing low cost, repeatable, long reserve life index, high netback oil and gas assets. The portoflio is focused in Saskatchewan, Western Canada.

Website

Wolf Midstream

Location: Calgary, AB, Canada
CPPIB Ownership: Approx. 99%
Investment: C$1.7 billion committed
Date of initial investment: September 2015

Wolf Midstream is an investment vehicle formed in September 2015 to invest in midstream energy infrastructure assets in Western Canada.

Wolf closed its first asset acquisition in October of 2016 with the purchase of a 50% interest in the Access pipeline at a valuation of $1.4 billion.

In February 2018, Wolf closed its acquisition of MEG Energy Corp.’s 50% ownership interest in Access Pipeline and a 100% ownership interest in the Stonefell Terminal for $1.52 billion plus capital commitments of approximately $90 million. This acquisition makes Wolf the 100% owner and operator of Access and allows management to continue to build a broader midstream business over time.

In October 2018, Wolf commenced construction on the Alberta Carbon Trunk Line (ACTL). The ACTL is a pipeline for the capture and transportation of CO2 to mature oil fields, which will undergo CO2 enhanced oil recovery. The ACTL is expected to underpin an expandable network capable of facilitating other carbon reduction solutions. CPPIB has committed up to $305 million to Wolf to fund the ACTL project.

Website

Arco Norte

Location: Mexico
CPPIB ownership: 29%
Investment: C$745 million
Date of investment: 2016

Arco Norte is one of the largest federal toll road concessions in Mexico and has a remaining concession length of c. 50 years. It is a 223-kilometre toll road that bypasses Mexico City connecting the states of Mexico, Puebla, Hidalgo, Tlaxcala and Queretaro, providing a critical link with major trade corridors.

Website

Arqiva

Location: United Kingdom
CPPIB ownership: 48%
Date of investment: 2009

Arqiva is the owner and operator of the national infrastructure that supports television, radio and wireless communications in the UK

Website

Associated British Ports

Location: United Kingdom
CPPIB ownership: 34%
Investment: £1.62 billion
Date of investment: 2015

Associated British Ports is the UK’s leading port operator, with a unique network of 21 ports across England, Scotland and Wales. Ports include Immingham, the UKs busiest port, and Southampton, the nation’s second largest and Europe’s most efficient container port, as well as the UK’s number one for cars and cruise.

Website

Autopista Guadalajara Tepic

Location: Mexico 
Date of investment: May 15, 2019

Autopista Guadalajara-Tepic is a 309km toll road, connecting Mexico’s central valley with the country’s northwest region, acting as a critical link between the cities of Guadalajara and Tepic for both commercial transport vehicles and tourism-driven light vehicle traffic. The road is composed of 3 segments: (i) 168km connecting Guadalajara (Mexico’s 2nd largest metropolitan area) and Tepic, which has been in operation for more than 20 years, (ii) 111km that bypass the city of Guadalajara, and (iii) 30km that bypass the city of Tepic. The concession has 22 years remaining, with the possibility of an extension of up to 30 additional years.

Website

AWG Plc

Location: Cambridgeshire, United Kingdom
CPPIB ownership: 32%
Investment: C$1.05 billion
Date of investment: 2006

AWG owns 100% of Anglian Water Services, the 4th largest UK water & sewerage business. It supplies 1.2 billion litres of drinking water to 4.4 million customers, addition to wastewater services to 6.1 million customers throughout the east of England.

Website

Broadcast Australia

Location: Chatswood, NSW, Australia
CPPIB ownership: 86%
Date of Investment: 2009

Broadcast Australia owns and operates the most extensive terrestrial broadcast transmission infrastructure in Australia with 600+ sites strategically located throughout Australia. Key customers include the national broadcasters ABC and SBS.

Website

Chicago Skyway

Location: Chicago, IL, United States
CPPIB ownership: 33.33%
Investment: Approximately US$560 million
Date of investment: 2016

Chicago Skyway is a 12.5 kilometer toll road that forms a critical link between downtown Chicago and its south-eastern suburbs. As an essential part of the Chicago road network, it delivers reliability and time savings for its users in one of the busiest corridors in the United States.

Website

Grupo Costanera

Location: Chile
CPPIB ownership: 49.99%
Investment: C$1.14 billion
Date of investment: 2012

Grupo Costanera is the largest urban toll road owner and operator in Chile with a portfolio of five toll roads in and around the Santiago region. Four of the urban roads (Costanera Norte, Noroiente, AMB, and Vespucio Sur) serve the densely populated Santiago Metropolitan region, where limited transportation alternatives exist. The remaining road, Litoral Central, connects Santiago to the west coast of the country.

Website

Highway 407

Location: Greater Toronto Area, Ontario, Canada
CPPIB ownership: 50%
Investment: C$7.1 billion
Date of investment: 2010

Highway 407 is the first all-electronic open-access toll highway in the world. It traverses the Greater Toronto Area (the “GTA”), the largest urban centre in Canada. As part of the integral transportation network of Toronto, Highway 407 currently stretches 108 km from the west to the east of the GTA and directly connects to seven other large freeways – Queen Elizabeth Way (“QEW”), 403, 401, 410, 427, 400 and 404.

Website

Larsen & Toubro India Development Projects Limited

Investment: US$332 million
Date of investment: 2014
Location: Chennai, India

L&T IDPL is one of the largest Infrastructure development companies in India and operates the country’s largest private toll road concession portfolio, spanning more than 2,000km. In addition to roads, the IDPL portfolio consists of a metro rail asset and an electricity transmission project. IDPL’s assets connect some of the most important cities, ports, and economic corridors in India.

Website

Nedgia

Location: Spain
CPPIB (Indirect) Ownership: 12%
Investment: €900 million
Date of Investment: 2018

Nedgia is the largest gas distribution company in Spain, and manages a 53,000 km network that delivers natural gas to over 5.3 million connection points in over 1,100 municipalities. It serves a geographically diversified residential and industrial customer base across Spain, providing its customers with access to a cost-efficient, reliable and environmentally-friendly source of energy. Nedgia also owns and operates a 1,255 km natural gas transmission network and 2,250 km LPG network that serves an additional 244,000 LPG connection points.

Website

NorthConnex

Location: Sydney, NSW, Australia
CPPIB ownership: 25%
Investment: AUS$525 million
Date of investment: 2015

NorthConnex is a nine kilometre tunnel project which will, as part of the wider Sydney road network, provide a direct connection from north to western and southern roads. NorthConnex will result in reduced heavy vehicle traffic and noise in local communities and more efficient movement of state and national freight. Construction is expected to be completed in 2019.

Website

Pacific National

Location: Australia
CPPIB ownership: 33%
Date of investment: 2016

Pacific National is one of the largest providers of rail freight services in Australia, providing above-rail haulage of containerized, break bulk, and bulk goods.  PN owns and operates rolling stock and logistics facilities across the country, utilizing Australia’s open-access below-rail infrastructure.  

Website

PT Lintas Marga Sedaya (LMS)

Location: Indonesia 
Date of investment: 2019

LMS is the concession holder and operator of the Cikopo-Palimanan (Cipali) toll road. At 117km, the Cipali toll road is one of the longest operational toll roads in Indonesia and a critical link in the transportation network of the island of Java, as part of the Trans Java Toll Road network. It serves as a thoroughfare within West Java, which is Java’s most populous and fastest growing province, and it also connects West Java and suburbs of Jakarta with the rest of Java. CPP Investment’s partner in LMS is PT Astra Tol Nusantara (Astra Infra), a subsidiary of PT Astra International Tbk (IDX:ASII).

Website

Puget Sound Energy

Location: Bellevue, WA, United States
CPPIB ownership: 32%
Date of investment: 2007

Puget Sound Energy is Washington state’s oldest and largest energy utility, with a 6,000-square-mile service area stretching across 11 Washington counties, primarily in the Puget Sound region. PSE serves more than 1 million electric customers and nearly 750,000 natural gas customers.

Website

Transelec S.A.

Location: Chile
CPPIB ownership: 28%
Investment: US$383 million
Date of investment: 2006

Transelec S.A. is the leading electrical transmission company in Chile, serving more than 98% of the population across two interconnected networks.

Website

Transportadora de Gas del Peru (TgP)

Location: Peru
CPPIB ownership: 49.9%
Investment: US$1.1 billion
Date of investment: 2013

TgP is the largest transporter of natural gas and natural gas liquids in Peru. TgP’s customers include the largest power generators, natural gas distributors and industrial companies in Peru. In addition, one of its customers, Peru LNG, is the largest gas exporter in Peru and one of the largest gas exporters in Latin America.

Website

West Connex

Location: Australia
CPPIB ownership: 20.5%
Investment: A$1.8B
Date of investment: 2018

WestConnex is a 33km toll road network comprising the M4 and M5 motorways and the M4-M5 tunnel linking the M4 and M5 in Sydney, Australia. This investment forms an integral part of Sydney’s orbital road network, connecting the growing communities and businesses in Western Sydney with key economic areas including the central business district, airport and port.

Website

Westlink M7

Location: NSW, Australia
CPPIB ownership: 25%
Date of investment: 2010

Westlink M7 is a fully electronic toll road which makes up 40 km of the Sydney, Australia 110 km orbital network and connects three of Sydney’s busiest radial motorways. Westlink M7 opened to traffic mid December 2005. Westlink M7 links major employment, industrial and residential growth areas in Sydney’s north-west, south-west and western regions.

Website

Canterra Farmland Holdings LP (Canterra)

Location: Canada
CPPIB Ownership: 99%
Investment: C$260 million
Date of Investment: 2014

Created in 2005, Canterra’s diversified portfolio consists of approximately 175,000 acres of farmland, representing one of the largest investable farmland portfolios in Canada. The key crops produced by the portfolio are wheat, barley and canola. The Canterra management team will selectively consider further investments in both Canada and globally.

Website

Cordelio Power

Location: Canada
CPPIB Ownership: 100%
Investment: C$740 million
Date of Investment: 2018

Cordelio Power is an independent power producer headquartered in Toronto, Canada. Cordelio owns and manages a 396MW renewable power generation portfolio consisting of four operating wind projects and two operating solar projects in Ontario. 

Website

Companhia Energética de São Paulo

Location: Brazil
CPPIB Ownership: 20%
Investment: R$975 million
Date of Investment: 2018

The consortium formed by the 50/50 joint venture between Votorantim Energia and CPPIB, acquired a controlling stake in Companhia Energética de São Paulo (CESP) in the privatization auction held on October 19th at the Brazilian Stock Exchange. CESP is one of the largest hydropower generators in Brazil, and owns and operates the Porto Primavera hydropower plant (1,540 MW installed capacity) through a concession expiring in 2028. Following the completion of the transaction, CESP will be granted a new 30 year concession for Porto Primavera in exchange for a payment of R$1.4 billion.

Website

Enbridge Inc.

Location: North America and Europe
Investment: C$2.25B
Date of investment: 2018

CPPIB acquired 49% of Enbridge’s interest in select North American onshore renewable power assets and two German offshore wind projects. The North American portfolio include 14 long-term fully contracted operating wind and solar assets in four Canadian markets and two operating assets in the U.S. (one wind and one solar), with a combined installed capacity of approximately 1.3 gigawatts. In addition, CPPIB and Enbridge entered into an agreement whereby the two parties will form a 50-50 joint venture to pursue future European offshore wind projects.

Website

Glencore Agriculture Limited (GAL)

Location: Canada and Australia
CPPIB Ownership: 40%
Investment: US$2.5
billion
Date of Investment:
2016

GAL is an integrated global originator, handler, processor and marketer of agriculture commodities with top three market export positions in Canada, Australia, the EU and Russia. It plays an important role in seaborne trade within the global agriculture value chain and is well-positioned to benefit from positive macro fundamentals, particularly population growth in Asia, and the resulting increase in demand for food. In total, the business employs more than 12,000 people and operates across more than 30 countries.

Website

Maple Power

Location: United Kingdom
Investment: 50%
Date of Investment: May 2019

Maple Power Ltd is a joint venture between Enbridge Inc. and CPP Investments, established in 2019 with the objective of investing in and managing offshore wind projects in Europe. The projects may be in the early development, late development, construction or operational phase. The joint venture is domiciled in the United Kingdom, with staff based in London and Paris.

Website

Pattern Energy

Location: North America and Japan
Investment: US$2.8B
Date of Investment: 2020

Pattern Energy is a leading U.S.-based independent renewable energy company with 3.4GW of operating wind and solar projects in North America and Japan. Pattern owns, operates and develops renewables assets globally, selectively pursuing new development across wind, solar, transmission, storage and advanced energy technologies.

Website

VTRM Energia

Location: Brazil
CPPIB Ownership: 50%
Investment: R$664 million
Date of Investment: 2018

VTRM Energia is a 50/50 joint venture formed between CPPIB and Votorantim Energia, a subsidiary of Votorantim Group. Votorantim Energia is the second-largest energy trading company in Brazil and operates 23 hydro power plants, and has partnerships in 9 consortiums, as well as the 2 wind farms that are in the JV, with total installed capacity of 2.2 GW. The Joint Venture already manages two wind parks in Northeastern Brazil: Ventos do Araripe III (Ventos III) and Ventos do Piauí I (Piauí I) with total installed capacity of 565MW, and is looking for expansion opportunities through the renewables sector in Brazil.

Website

AMLI Arts Center 

Location: Atlanta, GA
Area:  350 units
Operating Partner: AMLI Residential
CPP Investments Ownership: 45%
Investment: US$47 million
Date of investment: 2013

AMLI Arts Center is a 350-unit high-rise apartment community located in Midtown Atlanta, GA. The JV acquired the site in 2013, and completed construction in 2017. Property amenities include a resort style swimming pool, rooftop deck, business center with conference room, fitness studio, and pet spa. Consistent with the JV’s focus on sustainability, AMLI Arts Center is LEED Gold Certified.

The Project is one of 11 transactions totalling over 4,000 units within the broader joint venture relationship between CPPIB and AMLI. To date, the JV has deployed over US$1.0B in equity across Atlanta, Chicago, and Dallas.

Website

Bullring Shopping Centre

Location: Birmingham, UK
Operating Partner: Hammerson
Area: 1.3 million sq.ft.
CPPIB Ownership: 17%
Investment: £154.3 million
Date of investment: 2013

Located in Birmingham, Bullring is in the U.K.’s top ten retail destinations with over 160 tenants including high-quality fashion and catering brands. Anchored by Selfridges and Debenhams, it is over 98% leased and attracts some 36 million shoppers per year. It continues to attract leading domestic brands and expanding international retailers to Birmingham. Hammerson continues to have responsibility for asset management for the centre.

Website

CCP Corporate Office Portfolio

Location: Brazil
Operating Partner: Cyrela Commercial Properties
Area: 2.2 million sq.ft.
CPP Investments Ownership: 45%
Date of investment: 2017

The portfolio consists of 12 high-quality office properties, predominantly located in São Paulo’s Faria Lima neighborhood, the city’s most prime central business district. The district is served by the Faria Lima subway station and is positioned less than 2 miles away from two other major stations, Pinheiros and Vila Olimpia. The region also offers numerous dining options including high end shopping malls, such as Iguatemi SP and JK Iguatemi. The portfolio is over 95% leased, anchored by top-tier tenants from the technology, financial and legal services industries.

Website

DEXUS Office Trust Australia

Location: Australia
Area: 7.0 million sq.ft.
Portfolio: 20 office buildings
Operating Partner: DEXUS Property Group
CPPIB Ownership: 50%
Investment: A$2,100 million
Date of investment: 2014

The portfolio consists of 20 high quality, prime-grade office properties located in all key Australian cities but weighted predominantly to Sydney and Melbourne. The portfolio has a diverse tenant base from a broad range of industries including financial and insurance services, information media and telecoms, professionals, mining and Government.

GLP Nagareyama

Location: Japan
Area:  Approximately 10 million sq.ft.
Operating Partner: GLP
CPP Investments Ownership: 50%
Investment: JPY196.25 billion
Date of investment: 2016

CPP Investments and GLP’s first venture to invest in modern logistics facilities in Japan was launched in 2011. Since inception, the venture has built one of the best portfolios of modern logistics assets in the country. The facilities feature highly efficient floorplate layouts, earthquake resistant design, security systems, and tenant amenities to service modern space users including e-commerce companies and third party logistics operators. In addition, the facilities are developed to high sustainability standards; there are currently nine LEED certified facilities in the portfolio (two Platinum and seven Gold).

A prime example of this strategy is the Nagareyama project, a large-scale logistics park in Nagareyama city, 25km northeast of Tokyo CBD.  The project is expected to consist of eight modern logistics facilities, providing approximately 10 million square feet of total gross floor area. The project is currently being developed in stages, with three of the facilities completed, and tenanted.  The three completed facilities are certified to LEED Gold specifications.

IndoSpace Core

Location: India
Area: 14 million sq.ft.
Operating Partner: IndoSpace
CPPIB Ownership: 98%
Investment: US$500 million
Date of investment: 2017

CPPIB partnered with India’s largest developer of modern industrial and logistics real estate to create a joint venture that will focus on acquiring and developing modern logistics facilities in India. IndoSpace Core has committed to acquire 13 well-located industrial and logistics parks totalling approximately 14 million square feet, from current IndoSpace development funds. The joint venture will acquire the first nine facilities totalling approximately nine million square feet at closing, and the additional facilities within 24 months. The assets are prime industrial properties located in the top industrial and logistics hubs in India, including Chennai, Pune, Mumbai, Delhi and Bangalore.

Website

Lendlease International Towers Sydney Trust

Location: Barangaroo South, Sydney, Australia
Area: 1.93 million sq. ft..
Operating Partner: Lend Lease
CPP Investments Ownership: 36%
Investment: A$720 million
Date of investment: 2012

International Towers Sydney is our first office development in Australia, located at Barangaroo South, the new waterfront financial district on Sydney Harbour. Canada Pension Plan Investment Board’s investment consists of two commercial towers comprising 42 and 39 levels respectively and provides an aggregate area of commercial and retail space totalling 1.85 million sq. ft. Construction of the first tower (known as Tower 2) was completed in tranches from June 2015, while construction of the second tower (Tower 3) is scheduled for completion in May 2016. Over 77% of the leasable area has been pre-leased to major financial and professional services companies.

International Towers Sydney is part of a larger waterfront urban regeneration project at Barangaroo initiated by the NSW State Government comprising, commercial, residential, hotel, cultural, transport infrastructure and waterfront parks.

Website

Interlink

Location: Tsing Yi, Hong Kong
Area: 2.4 million sq.ft.
Operating Partner: Goodman Group
CPPIB Ownership: 50%
Investment: HK$1,416.5 million
Date of investment: 2011

Interlink is a high quality industrial facility located in Tsing Yi, an island approximately 10km northwest of Hong Kong Island, and 20km east of the Hong Kong International Airport. The facility is comprised of 14 ramp floors, seven cargo floors, and one office floor at the top level. It is situated in a prime industrial location at the heart of the Hong Kong logistics hub. Hong Kong is Asia’s leading international transport/logistics hub and acts as an important gateway to mainland China, the world’s busiest international air cargo center and the third busiest container port.

Website

Longfor Chengdu Mixed-use Development Project

Location: China
Operating Partner: Longfor Group Holdings Limited
CPP Investments Ownership: 49%
Investment: C$495 million
Date of investment: 2017

In 2017, CPP Investments committed to a fourth joint venture with Longfor Group Holdings Limited (“Longfor”) to invest in a mixed-use development project in eastern Chengdu, China with 740,000 sq.m. of developable GFA. Upon project completion in end of 2020, CPP Investments will hold a 49% interest in a 140,000 sq.m. regional shopping center, our fourth Paradise walk branded shopping center managed by Longfor and a 49,000 sq.m. rental housing property operated by Longfor’s subsidiary, Guanyu. The project will also develop and sell 440,000 sq.m. of residential and commercial properties, providing a captive catchment for the development. The shopping center opened in December 2019 and CPP Investments currently has a portfolio of four shopping malls that is well diversified covering the key cities of Yangtze River Delta region and Western China.

Website

Milton Park

Location: London, UK
Area: 2.9 million sq. ft.
Operating Partner: Hermes Investment Management
Asset Manager: MEPC 
CPPIB Ownership: 50%
Investment: £200 million
Date of investment: 2017

Located 45 miles west of London in the Thames Valley region of the U.K., Milton Park accommodates leading global science and technology companies as well as emerging businesses, including a number of spin-off organisations from the nearby University of Oxford. At 250 acres, Milton Park is one of Europe’s largest and most successful integrated business, science and technology parks and home to over 250 organisations employing over 9,000 people.  

Website

Phoenix Mills India Retail

Location: India
Area: 1.0 million sq.ft.
Operating Partner: The Phoenix Mills Ltd.
CPPIB Ownership: 49%
Investment: INR 16,771 million
Date of investment: 2017

A joint venture alongside Phoenix Mills Ltd.  to participate in a strategic investment platform, Island Star Mall Developers Pvt. Ltd (ISMDPL), to develop, own and operate retail-led mixed-use developments across India. ISMDPL owns Phoenix MarketCity Bangalore, one of the top performing shopping malls in the country. Opened in 2011, the mall has gross leasable area of approximately one million square feet and is centrally located in Whitefield, a prominent residential hub and amongst the largest commercial areas in Bengaluru. The Indian retail sector is forecast to see sustained growth over the long term, primarily due to favourable demographics and the rise of the middle class. At the same time, international retailers are increasingly attracted to India as a growth market, which is leading to strong demand for space in high-quality, well-located shopping malls.

Website

Richmond-Adelaide Centre

Location: Toronto, Canada
Area: 2.4 million sq.ft.
Operating Partner: Oxford Properties Group
CPPIB Ownership: 50%
Investment: $650 million
Date of investment: 2016

Richmond-Adelaide Centre is a high-quality office complex that includes five buildings located in the heart of Toronto’s downtown core and is an integral part of the PATH pedestrian walkway linking to nearby attractions and the public transit system. EY Tower, the newest building addition completed in 2017, was built to LEED Platinum specifications and serves as the corporate headquarters of Ernst and Young, OMERS and TMX.

Richmond-Adelaide Centre was acquired as part of a portfolio of assets in Toronto and Calgary. 

Website

Raffles City China Venture

Location: Shanghai, China
Area:  237,500 sq.ft.
Operating Partner: Capitaland Group
CPPIB Ownership: 15%
Investment: US$177 million
Date of investment: 2008

Further to an investment made in 2008 into Capitaland Raffles China Fund, CPPIB came together with Capitaland China Holdings and one other major global sovereign wealth fund invested in a large scale mixed-use development in Shanghai’s Changning district, a major commercial area in North West Shanghai. The project is a landmark with three Grade A office towers and a large retail podium. Raffles City Changing is currently being developed in stages, with one of the office towers already completed and tenanted.

Website

The Unite Group plc

Location: United Kingdom
Total Investments: 20%
Total Investments: £900 million
Date of Investment: 2019

Unite Students is the largest manager and developer of purpose-built student accommodation in the UK, operating over 70,000 beds across the country in the key university towns and cities. As part of the disposal of CPP Investments’ wholly-owned student accommodation platform (Liberty Living) to Unite in 2019, CPP Investments received a portion of the consideration in shares equivalent to ~20% of the combined group’s share capital. CPP Investments also have non-executive board representation.

Website

Westfield Stratford City Shopping Centre

Location: London, United Kingdom
Area: 1.9 million sq.ft.
Operating Partner: Unibail-Rodamco-Westfield
CPPIB Ownership: 25%
Investment: £302.1 million
Date of investment: 2010

The largest urban shopping centre in Europe, Westfield Stratford City shopping centre is located adjacent to the site of the 2012 London Olympics in Stratford, East London. A major retail and entertainment destination, there are 250 shops, over 70 restaurants and bars, a 12 screen all digital state of the art cinema, a 14 lane All Star Lanes bowling, and a casino. This is the largest retail-led, mixed use urban regeneration project ever undertaken in the UK and is one of the last significant development sites in East London.
Major tenants include: John Lewis, Marks & Spencer, Waitrose supermarket.

Website

Teams within Real Assets

Our team is comprised of Energy and Resources, Infrastructure, Portfolio Value Creation, Power and Renewables, and Real Estate.

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