The Caisse de dépôt et placement du Québec’s subsidiary CDPQ Infra has concluded a work optimization agreement with NouvLR, the consortium building the Réseau express métropolitain, a rapid transit system underway in the greater Montreal area. The agreement is a response to challenges identified during the first 18 months of the project and reinforces the project’s delivery […]
Sun Life Financial is set to take an 80 per cent stake in investment manager InfraRed Capital Partners. Headquartered in London, England, InfraRed manages global infrastructure and real estate investments. The transaction includes a closing payment of about $515 million, with InfraRed’s owners maintaining an option to sell their remaining positions in the company to […]
The Swedish word “tack” translates to “thank you,” which is precisely what IKEA is saying to employees with its Tack! loyalty program. In Canada, the program operates as a deferred profit-sharing plan and is part of employees’ total rewards package. “The [program] was launched in 2013 based on the wish of IKEA founder Ingvar Kamprad […]
As private equity becomes a more sizeable part of Canadian pension portfolios, the British Columbia Investment Management Corp.’s resources and staffing are growing with it. In April 2016, when Jim Pittman joined the BCI as its senior vice-president of private equity, his group comprised six or seven people. Three and a half years later, the […]
The Canada Pension Plan Investment Board is committing US$225 million to the India Resurgence Fund platform, through its wholly owned subsidiary CPPIB Credit Investments Inc. The IndiaRF is a distressed-assets buyout platform, jointly sponsored by Piramal Enterprises Ltd. and Bain Capital Credit. It seeks to buy distressed assets by purchasing existing debt and equity securities, either through bankruptcy courts, directly from […]
In 2009, the Air Canada pension plan was in dire straits with a $2.6 billion solvency deficit. A decade later, it has a surplus of more than $2 billion. The complete turnaround is in part due to a new investment team that joined in 2009 and transformed the pension fund’s investments. With the $21 billion […]
The Caisse de dépôt et placement du Québec is taking part in a $358-million round of equity financing by Montreal-based Nuvei, a global payment-technology provider. Nuvei offers omni-channel, end-to-end, payment-acceptance solutions, foreign-exchange services, streamlined payouts and more for clients in Asia Pacific, Canada, Europe, Latin America and the United States. The Caisse is already a shareholder in Nuvei, which is currently […]
OMERS Ventures, the venture capital investing arm of the Ontario Municipal Employees Retirement System, has hired former Uber Technologies Inc. executive Jambu Palaniappan to join its London office as a managing partner. Palaniappan joined Uber in 2012 and led its expansion into the Europe, Middle East and Africa regions before being named the general manager […]
H2O Power, in which the Public Sector Pension Investment Board is a shareholder, is selling its Canadian hydroelectric generation assets to TCorp. Through the transaction, the investment and financial management partner of the New South Wales public sector will hold a 49 per cent interest in H2O Power’s eight Canadian assets. Read: PSP Investments sells […]
The Canada Pension Plan Investment Board is investing up to US$600 million through India’s National Investment and Infrastructure Fund’s master fund. The agreement commits the CPPIB to investing US$150 million in the master fund, with the option to co-invest up to US$450 million in future opportunities alongside the fund. With this move, the CPPIB joins other institutional investors, […]