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Canada  + Cross Border News + Quebec  + Finance  | 
The Canada Pension Plan Investment Board grew its assets under management by $14.7 billion in its latest quarter.

Real Estate Deals Contribute to CPPIB $14.7B AUM Increase

The Canada Pension Plan Investment Board increased its assets under management by $14.7 billion in its latest quarter with help from a number of significant commercial real estate-related deals.

CPPIB said its net assets increased to $590.8 billion from $576.1 billion quarter-over-quarter.

The pension fund manager’s quarterly report detailed some investments that have not received much public attention.

Notable transactions included C$197 million in financing to support U.S.-based CapVest Partners in its acquisition of Canada’s Recochem. The Montreal-based company manufactures and distributes aftermarket transportation and household fluids.

CPPIB sold the Midland Gate Shopping Centre in Perth, Australia for C$85 million (A$97 million). The property was held through the Vicinity Retail Partnership (VRP). The transaction marked the final asset disposition from VRP, a joint-venture vehicle that had invested in Australian shopping centres since forming in 2010.

CPPIB completed those deals along with a well-known major investment through a new joint-venture with U.S.-based Blackstone entities and funds affiliated with Rialto Capital. The partners acquired a 20% equity stake for US$1.2 billion in a joint-venture that holds a US$16.8-billion senior commercial mortgage loan portfolio.

The portfolio was formerly owned by collapsed U.S.-based Signature Bank and comprises more than 2,600 first mortgages on retail, market rate multi-family and office real estate located primarily located in the New York metropolitan area. 

The U.S. Federal Deposit Insurance Corporations owns the remaining 80% of the mortgage portfolio.


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Canada Pension Plan Investment BoardFDIC

About Monte Stewart

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.

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