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 […]
Private capital funds are increasingly turning to subscription credit facilities, which can have their advantages but also come along with risks, according to new research by Preqin Ltd. Subscription credit facilities provide short-term loans to cover transactional costs for private capital funds, so they don’t have to make capital calls to investors. While their use […]
The Caisse de dépôt et placement du Québec is leading a $40-million round of financing for Canadian virtual health-care platform Dialogue. Venture capital firm Holtzbrinck Ventures is also a leader in the financing, accompanied by First Ascent Ventures, Portag3 Ventures, White Star Capital, Walter Capital and National Bank of Canada. “This transaction aligns well with our Quebec investment strategy,” […]
The Caisse de dépôt et placement du Québec is partnering with private equity firm Australis Partners and the International Finance Corp., a part of the World Bank Group, to acquire 50 per cent stakes in Colombia-based Alianza Fiduciaria and Alianza Valores. Both firms are owned by Advent International, a British private equity firm. Alianza Fiduciaria is a […]
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 British Columbia Investment Management Corp., together with private equity firm Preservation Capital Partners, is investing in BMS Group Ltd., the U.K.-based brokerage arm of Minova Insurance Holdings Ltd. While the exact terms of the investment weren’t disclosed, the deal values BMS Group at £500 million, subject to regulatory approvals. “As an investor of patient capital, we seek […]
The Ontario Teachers’ Pension Plan is appointing six new managing directors in its investment division. Maggie Fanari has been promoted to managing director of the teachers’ innovation platform and high conviction equities. Fanari was previously responsible for supporting the build of the global strategy for the innovation platform. Since joining the pension fund in 2006, she’s worked on large-scale investments in both public and […]
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 […]
The Alberta Investment Management Corp. is buying an 85 per cent equity stake in the Northern Courier pipeline from TC Energy, formerly known as TransCanada Corp. After the transaction closes, which is expected to be in the third quarter of 2019, TC Energy will hold an aggregate 15 per cent share in the pipeline and […]
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 […]