When the coronavirus pandemic shook up the investment landscape last spring, Canadian pension funds were also jostled by the shock wave, with the Alberta Investment Management Corp. and the Ontario Municipal Employees Retirement System among the hardest hit. And while the pandemic was an unprecedented event, such losses have raised the issue of whether Canadian pension […]
The Public Sector Pension Investment Board is buying a majority stake in a passenger rail sector business it’s been invested in for the past 13 years. According to the terms of the deal, PSP Investments and asset management company Amber Infrastructure Group Holdings Ltd. will buy a 51 per cent stake in Angel Trains Ltd. […]
The British Columbia Investment Management Corp. is selling its interest in a window covering company. The BCI and its co-owner AEA Investors Ltd. signed a definitive agreement to sell Springs Window Fashions to Clearlake Capital Group. Under the terms of the deal, Springs’ chief executive Eric Jungbluth will continue to lead the company following the transfer of […]
The Canada Pension Plan Investment Board is investing $1 billion in Amazon.com Inc.’s chief rival in the Indian e-commerce sector. The Flipkart Group, which was founded in 2007, boasted the largest share of India’s e-commerce market in 2020, significantly ahead of its closest rival Amazon. The CPPIB investment is part of a total US$3.6 billion funding round for […]
The British Columbia Investment Management Corp. is becoming “more intentional about” its ongoing environmental, social and governance efforts in the wake of the coronavirus pandemic, says Jennifer Coulson, vice-president of ESG and public markets for the investment manager. Its 2020 annual report highlights the BCIs’ expansion of its carbon footprint reporting to include all asset classes […]
The Caisse de dépôt et placement du Québec is one of two organizations investing a total US$940 million in Phoenix Tower International, a U.S.-based wireless communications infrastructure provider. The investment will fund the company’s expansion in Europe as well as further growth in new and existing markets. The other investor is AMP Capital, an Australia-based […]
Investors breathed a sigh of relief as they turned over their calendars at the end of 2020. Few were sorry to see the back of a turbulent year that drove nation after nation to their worst economic contractions in generations: over the course of 2020, the U.S. gross domestic product shrank around 3.5 per cent, […]
An insurance holding company backed by the Caisse de dépôt et placement du Québec and the Ontario Teachers’ Pension Plan is making its inaugural transaction, valued at US$1 billion. Constellation Insurance Holdings Inc. will acquire Ohio National Mutual Holdings Inc. and its wholly-owned subsidiary Ohio National Financial Services Inc., a deal that includes both member […]
Canada’s pension funds are shifting asset management functions in-house while becoming more strategic about oversight of external managers, according to a new survey from CIBC Mellon. It found pension funds are increasing the portion of assets and investment activities managed in-house to 28 per cent from 22 per cent, with the majority of pension funds […]
The Ontario Teachers’ Pension Plan is cashing in on the recent GameStop Corp. stock rally, after selling its shares in a U.S.-based retail real-estate company that saw its value skyrocket as a result. In late January, the Ontario Teachers’ sold its 16.4 per cent share in Macerich Co. for nearly US$500 million, according to data […]