Canadian Pensions Plug 80 Million into Brazilian Shopping Centre

Canadian public investors have been active in Latin America whether in direct company stakes, infrastructure, or core real estate. The Canada Pension Plan Investment Board (CPPIB) and Caisse de depot et placement du Quebec each invested $40 million to have full ownership in a beachfront shopping centre in Brazil’s Rio de Janeiro.

The 138-store shopping centre called Botofogo Praia Shopping is located in Botofogo beach. The property has been operational since 1999.

The CPPIB invested their $40 million for a 24.5% stake. Caisse de depot et placement du Quebec invested through Ivanhoe Cambridge its real estate arm to increase its stake to 75.5%.

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