The Canada Pension Plan Investment Board is providing $300 million in credit to a global restructuring and investment advisory firm.
The financing of Gordon Brothers, a Boston company that provides capital to businesses, will be delivered through the CPPIB’s subsidiary, CPPIB Credit Investments Inc. The funds will be used to fund capital investment offerings. In 2021, these offerings generated more than $700 million for the company.
“This new relationship with Gordon Brothers broadens our access to the asset-based lending space as we continue to build a diversified portfolio of credit assets,” said Andrew Edgell, the CPPIB’s global head of credit investments, in a press release.
In other news, the Ontario Municipal Employees Retirement System is closing its US$600 million sustainable bond offering.
The dual tranche bond is structured according to a sustainable bond framework unveiled by the OMERS last month. The pension fund decided to close the offering after investor interest reached more than US$1.2 billion. The proceeds will be used to finance investments in areas including renewable energy, green buildings and broadband internet.
In a press release, Jonathan Simmons, chief financial and strategy officer, said the release of the framework and the bond issuance demonstrated the OMERS’ commitment to sustainability. “The appeal of sustainable bonds to the investment community enabled us to tap into global capital markets at attractive rates for our members.”