CPPIB Sells Private Equity Portfolio to Ardian for $2B
The Canada Pension Plan Investment Board has sold a diversified portfolio of 20 limited partnership fund interests in North America to Ardian US$2 billion.
Toronto-based CPPIB recouped C$2 billion in net proceeds from the transaction after certain costs and adjustments. The deal, announced Tuesday, covers mostly North American and European buyout funds, and has wide-ranging real estate implications.
“This transaction was undertaken as part of our active portfolio management activities,” said Suyi Kim, CPPIB’s senior managing director and global head of private equity in a news release. “As a systematic buyer and seller in the secondaries market, we see this sale as an attractive opportunity to optimize the construction of our portfolio and to allow us to further support future investments.”
New York-based Ardian said the deal continues the company’s secondary funds strategy to provide active portfolio management solutions to large institutions looking to rebalance their portfolios and monetize their private-equity investments.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.