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China Investment Corporation Narrows in on BC Timberlands

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The China Investment Corporation (CIC) is drawing closer to buying a significant stake in Island Timberlands LP. Brookfield Asset Management is the parent company of Island Timberlands. Island Timberlands controls around 258,000 hectares of timberland on Vancouver Island and the surrounding area. Island Timberlands harvests around 1.8 million cubic meters per annum, majority being exported to the Pacific Northwest USA and Asia.

Asia has robust demand for Douglas-fir and whitewood species. This demand has led Chinese firms to invest in the forestry sector in Western Canada. For example, in April 2011, ROC Holdings Ltd., a private Canadian company owned by a parent Chinese firm, purchased West Fraser Timber’s Skeena Sawmills division.

High quality real assets are in demand by sovereign wealth funds and large public funds.

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CPPIB Tries Out CLO Equity Tranche Investing with Sound Point Capital

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Canada Pension Plan Investment Board (CPPIB) through its wholly-owned subsidiary, CPPIB Credit Investments Inc. (CPPIB Credit), is broadening its portfolio through new investments in equity tranches of collateralized loan obligations (CLOs) alongside experienced CLO asset managers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Names Yu Ben Meng as Chief Investment Officer

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The California Public Employees’ Retirement System (CalPERS) announced that Yu Ben Meng has been selected as the pension fund’s new chief investment officer (CIO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ontario Nonprofit Network Awards Mandate to OPTrust

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The Ontario Nonprofit Network (ONN), a nonprofit network for the 58,000 nonprofits in Ontario, selected OPTrust to manage defined benefit assets. ONN selected OPTrust Select, the new defined benefit solution from OPTrust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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