Ontario Teachers Pension Plan and the Canada Pension Plan Investment Board both invested in a C$2.8 billion (US$1.86 billion) global private equity portfolio from Deutsche Bank. The C$68 billion Ontario Teachers invested C$550 million through its private equity arm, Teachers Merchant Bank, which will own approximately 20% of the portfolio, according to a press release from the pension fund. The C$13 billion CPPIB invested C$360 million and will own approximately 15% of the portfolio; it also committed up to C$52.11 million in follow-on investments. Both pension plans are located in Toronto.
The portfolio, which consists of equity interests in more than 80 private companies in the United States and Europe, is managed by a new limited partnership called MidOcean Partners. MidOcean was formed by the former senior management of DB Capital Partners, the private equity arm of Deutsche Bank.