Canada Pension Plan Investment Board, Toronto, made a total of $2.9 billion in commitments and investments during the quarter ended Sept. 30, according to a news release Thursday.
CPPIB, which manages the assets of the Canada Pension Plan, said the pension fund had net assets of C$529 billion ($386.4 billion) as of Sept. 30, the end of its second fiscal quarter.
Within credit, the board committed C$310 million to Kotak Infrastructure Investment Fund, an infrastructure debt fund managed by Kotak Investment Advisors.
Within private equity, the board made the following commitments and investments:
- Committed $400 million to CVC Capital Partners Asia VI, a buyout fund.
- Committed a total of $316 million to several growth equity and venture capital funds. These commitments included Scale Venture Partners Fund VIII, a venture capital fund focused on early stage investments in enterprise software businesses; venture capital fund Ribbit Capital X and Ribbit Capital OB1, a feeder fund; Greenoaks Capital Opportunities Fund V, a venture capital fund focused on growth-stage technology businesses globally; and True Ventures VIII, a early stage venture capital fund focused on enterprise software, connected hardware, consumer brands, digital biosciences and digital asset companies.
- Committed $300 million to Clayton, Dubilier & Rice Fund XII, an upper-middle-market buyout fund focused on in North America and Western Europe.
- Made a $47 million co-investment alongside True North Fund VI to invest in Accion Labs, a digital information technology services company.
- Completed a $35 million equity co-investment alongside buyout fund Carlyle Asia Partners VI, managed by Carlyle Group, to invest in HCP Global, a cosmetics and skin-care packaging manufacturer.
Within real assets, the board made the following commitments and investments:
- CPPIB committed an additional C$755 million in equity to the second tranche of the Tricon Multifamily joint venture, for a total allocation of C$1.5 billion. Alongside manager Tricon Residential, the joint venture will develop 2,000-plus class-A purpose-built rental units in the Toronto area.
- Committed €475 million ($462 million) to a new joint venture focused on the European hospitality sector with Hamilton-Pyramid Europe, a hotel operator and co-investment partner forming part of the Pyramid Global Hospitality group of companies.
- Committed an additional €475 million to the Round Hill European Student Accommodation Partnership, a joint venture with Round Hill Capital that invests in high-quality purpose-built student accommodation in major cities across Europe.
- Committed $25 million to ArcTern Ventures Fund III, an early stage clean-technology fund.
- Committed $30 million to Congruent Continuity Fund I, a venture capital fund managed by Congruent Ventures that invests in clean-tech startups in the U.S.
- Committed $30 million to Evok Innovations Fund II, an early stage fund that invests in North American clean-tech companies.
- Committed €19 million to Klima Energy Transition Fund, a later-stage venture capital fund managed by Alantra and Enagas.
