The Canada Pension Plan Investment Board increased its net assets by $62.3 billion in the first quarter as the fund manager acquired several global properties.

The increase consisted of $46.4 billion in net income and $15.9 billion in net transfers from the Canada Pension Plan (CPP).

CPPIB’s total assets grew XX quarter-over-quarter to $632.3 billion from $570 million. The pension fund posted an 8% net return for the fiscal year.

On a 10-year annualized basis, the fund recorded a net return of 9.2%. The fund consists of the CPP base fund and additional CPP accounts.

During the first quarter, CPPIB’s notable deals included a US$750-million joint-venture with Redwood that will invest in the U.S. residential sector; a $450-million investment in Ontic’s growth and the acquisition of Nido Living and related launch of European student-housing platform.

Photo: Nido Living