Canada Pension Plan Investment Board, Toronto, committed US$138 million to Kainos Capital Partners, a middle-market private equity fund with an exclusive focus on the food and consumer sector, confirmed spokeswoman Linda Sims.
Separately, the C$172.6 billion (US$167.8 billion) pension plan acquired a portfolio of primarily food companies from the HM Capital Sector Performance Fund and related co-investors for US$468 million. The CPPIB will own the portfolio companies, separate from the fund, and the portfolio will be managed by the same team as the Kainos Capital fund.
Kainos was founded last year by members of the food and consumer products team at HM Capital.
The pension plan had a 17.1% allocation to private equity as of Dec. 31.