The Canada Pension Plan Investment Board is selling its student accommodation business Liberty Living to London Stock Exchange-listed Unite Group for about $1.3 billion. The CPPIB will keep a 20 per cent stake in the newly combined company and one seat on its board. When the deal is complete, Unite Students’ assets will total more […]
The Ontario Teachers’ Pension Plan has released its first climate change report. Written following the recommendations of the Financial Stability Board’s task force on climate-related financial disclosure, the report outlined the plan’s governance approach and strategy with regard to climate change. “Climate change is one of the biggest and most daunting challenges facing the world.” […]
Oxford Properties Group, the global real estate arm of the Ontario Municipal Employees’ Retirement System, released its initial designs for the planned Union Park development in downtown Toronto. The four acre site, located just north of the city’s CN Tower, is set to become a 4.3 million square foot mixed-use space. The project, once completed, […]
The Ontario Teachers’ Pension Plan has terminated an agreement to sell its 10 per cent stake in Hudson’s Bay Co. to a private entity controlled by the retailer’s executive chairman, Richard Baker. The announcement, by one of Baker’s private companies, came after HBC’s publicly traded shares rose above what Teachers’ was to get under the […]
Sun Life Financial Inc. is consolidating several elements of its asset management business. The firm’s fixed income institutional asset management businesses — Prime Advisors Inc., Ryan Labs Asset Management Inc. and Sun Life Institutional Investments Inc. — will be combined with its general account to form SLC Management, a new autonomous asset management business. SLC […]
A real estate partnership co-owned by the Public Sector Pension Investment Board has broken ground on a $1.1-billion private student residence in London, England. The Cherry Park partnership, formed in March by the PSP, European real estate company Unibail-Rodamco-Westfield and Vancouver-based QuadReal Property Group, a subsidiary of the British Columbia Investment Management Corp., is expected to […]
The Public Sector Pension Investment Board reported a net return of 7.1 per cent at the end of its last fiscal year, ending March 31, 2019. The fund increased its overall assets under management by 9.7 per cent, jumping from $153.1 billion to $168 billion, including the $3.7 billion the fund received in net contributions. […]
The market value of Canadian trusteed pension fund assets decreased by 1.3 per cent in Q4 2018 compared to the previous quarter, landing at $1.87 trillion. Yet, on a year-over-year basis, the market value of assets rose by 1.6 per cent compared to the fourth quarter of 2017. The strongest area of growth was mortgage […]
Since standard banks began to shy away from their traditional financing role after the 2008 financial crisis, institutional investors have helped maintain markets by becoming increasingly important providers of long-term capital. Historically low interest rates also pushed these sovereign wealth and pension funds away from the traditional fixed income bedrock of their portfolios into a bevy […]
Canadian investors are keen to increase their allocations to alternatives over the next 12 months, according to a new survey by CIBC Mellon. Specifically, 58 per cent of Canadian institutional investors surveyed said they expect to increase allocations to this asset class and none said they expect to reduce allocations. This contrasts global findings in […]