Canada Pension Plan Investment Board and Ontario Teachers Pension Plan, both of Toronto, each committed US$200 million to FountainVest, a new Hong Kong-based private equity fund, confirmed a CPPIB spokesman. The C$106 billion (US$105.3 billion) Ontario Teachers plan made the investment through its C$17 billion Teachers Private Capital private equity arm. The C$119.4 billion CPP Investment Board has C$20.2 billion in private investments. CPPIB will fund its commitment from cash; an Ontario Teachers spokeswoman could not be reached to discuss funding.
Separately, the CPP Investment Board will open a Hong Kong office in March to focus on private equity and real estate investments in Asia. Having a team of investment professionals on the ground in Hong Kong with deep local knowledge of the region will enable us to identify new investment opportunities that align with our long-term investment horizon, said David Denison, CPP president and CEO, in a news release.