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CPPIB Buys Interest in Uber and Square Headquarters

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San Francisco’s resurgent office market has attracted more institutional investors to the stage. The Canada Pension Plan Investment Board (CPPIB) and Los Angeles-based Hudson Pacific Properties, Inc., a real estate company focused on Western U.S. real estate, formed a joint venture in which the CPPIB is acquiring a 45% interest in 1455 Market Street. CPPIB is acquiring the equity interest from Hudson Pacific for US$219.15 million. This is before closing adjustments. Hudson Pacific will retain a 55% interest in the San Francisco Class A office and handle building management and leasing. The 1455 Market property has 22 stories and sits along 11th street.

1455 Market Street is the global headquarters of famous startups Uber and Square. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Canadian Pension Giants Could Support Trans Mountain Pipeline Deal

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The British Columbian (B.C.) government and indigenous groups publicly oppose the Trans Mountain Pipeline project over a number of issues, which include environmental concerns (potential pipeline spills) and land protections. The threat of project derailment sent jitters to Houston-based Kinder Morgan, Inc., requiring the company to halt non-essential spending on Trans Mountain Pipeline L.P. Calgary-based Kinder Morgan Canada Limited, which owns the pipeline, is a listed company that is 70% owned by Kinder Morgan and 30% owned by stock market investors (float). Kinder Morgan Canada hired TD Securities to explore options regarding the future of the pipeline.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Goldman Sachs Poised to Name David Solomon as New CEO

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Goldman Sachs is poised to name David M. Solomon, the firm’s president, as its new CEO, replacing Lloyd C. Blankfein. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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