Canada Pension Plan Investment Board, Toronto, committed US$654 million to Behrman Capital PEP, a private equity buyout fund, confirmed board spokeswoman Linda Sims.
The fund was formed to acquire the five remaining investments in Behrman Capital III and provide immediate and full liquidity to that fund's limited partners.
Separately, the CPPIB announced it returned 1.9% for the quarter ended Sept. 30, as net assets reached a record high of C$170.1 billion (US$170 billion). The increase in net assets comes from C$3.1 billion in investment income and C$1.3 billion in net CPP contributions.
The plan has a 2.4% return for the sixth months of its fiscal year, which began April 1. Net assets increased C$8.5 billion — C$4 billion in investment income, C$4.7 billion in net contributions and about C$200 million in operating expenses.
The pension plan has a current asset allocation of 33.5% fixed income, 33.2% public equity, 16.5% private equity, 10.6% real estate and 6.2% infrastructure. CPPIB does not release quarterly returns for asset classes, Ms. Sims said in a telephone interview.
The CPP had a 2.5% annualized five-year return and 6.7% 10-year return, both as of Sept. 30.
Also, the CPPIB announced Friday it acquired Tomkins Group's air distribution division for about $1.1 billion from private equity firm Onex Corp. The two entities jointly acquired Tomkins, an industrial holding company, in 2010.