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CPPIB Hires Carrasquillo, Expand Hedge Fund Strategies

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Whispers of a long/short equity hedge fund are starting to escape from the Canada Pension Plan Investment Board (CPPIB).

According to Financial News, a subsidiary of Dow Jones & Company, CPPIB has decided to build out a long/short portfolio that will target Europe, the Middle East and Africa (EMEA). The news came in conjunction with the hire of Dureka Carrasquillo from Tranberg Capital Management.

Alain Carrier, head of Europe for CPPIB, played down the suggestion of an “in-house hedge fund,” electing to equate it to a strategy CPPIB has in play in Toronto.

The CPPIB is known in asset management circles as being a sophisticated investor, bringing significant investment expertise in house. This recent move to expand their in-house EMEA equity team identifies with this perception.

Prior to joining the US$ 175 billion CPPIB as the senior portfolio manager of EMEA, Carrasquillo was the CEO of Tranberg Capital Management. She also held senior positions at Partner Fund Management, Powe Capital Management and Invesco.

CDPQ Boosts Stake in Azure Power

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Disclosed on October 17, 2018, Caisse de dépôt et placement du Québec (CDPQ), through CDPQ Infrastructures Asia Pte Ltd., increased its stake in Azure Power Global Limited, a listed Indian solar power producer. CDPQ increased its ownership in Azure Power to 40.3% ownership by a US$ 100 million commitment in a recent capital raise. Post-deal, CDPQ has invested US$ 240 million in Azure Power.

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Invesco Lost a Big SWF Equity Mandate

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Invesco celebrated its landmark acquisition to acquire OppenheimerFunds from MassMutual. Invesco faced some outflows on its active management side of the business. In the third quarter of 2018, Invesco had outflows from two sovereign wealth funds, which totaled approximately US$ 2.5 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Sky News Reveals CPPIB Eyeing Gatwick Airport

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Mark Kleinman of Sky News revealed that the Canada Pension Plan Investment Board (CPPIB) is seeking to purchase a stake in Gatwick airport. The transaction could be more than £3 billion GBP, as CPPIB seeks to acquire a 42% in the airport from Global Infrastructure Partners. Furthermore, CPPIB would invest more capital into the airport if the deal goes through.

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