BGI, Goldman Sachs hired for overlay program

The CPP Investment Board, Toronto, hired Barclays Global Investors Canada and Goldman Sachs Asset Management to handle C$500 million (US$375.6 million) each in CPP's new active overlay program, said John Cappelletti, manager of communications and stakeholder relations. The two firms join Connor, Clark & Lunn and UBS Global Asset Management, which were hired in April to run C$500 million each for the program. The board, the equity investment arm of the C$73.2 billion Canada Pension Plan, Ottawa, began the program to gain "incrementally higher returns through active management," Mr. Cappelletti said.