The Canada Pension Plan Investment Board is selling a portfolio of fund interests in 20 limited partnership buyout funds in a deal worth $2 billion.

The assets, which are based in North America and Europe, will be sold to French-based private investment firm Ardian.

“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,” said Suyi Kim, senior managing director and global head of private equity at the CPPIB, in a press release.

Read: OMERS invests $546.8M in sports conglomerate, CPPIB sells stake in German wind farm assets

In other news, the Caisse de dépôt et placement du Québec is investing in Avenir Global, a Montreal-based media company.

According to a press release, the firm intends to double its revenue over the next five years through international expansion projects. Details of the transaction haven’t been disclosed.

“With this investment, Avenir Global will be able to implement its ambitious growth plan through acquisitions aimed at maintaining its strong presence on the international scene,” said Kim Thomassin, executive vice-president and head of Quebec at the Caisse, in the release.

Read: Caisse pledging to allocate up to $8BN to Quebec managers by 2028