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CPPIB Indian Property Venture Acquires SP Infocity IT Park

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Canada Pension Plan Investment Board (CPPIB) and Mumbai-based Shapoorji Pallonji Group, through their joint investment unit SPREP Pte Ltd. (CPPIB owns 80% of the unit), is making its first investment acquiring 100% of the securities of Faery Estates Private Limited. India-based Faery Estates owns, operates and manages SP Infocity IT Park in Chennai, India. The property is on Old Mahabalipuram Road and has nearly 2.7 million square feet of operational space. Some key tenants are Amazon, Ford, Siemens, HSBC, AT&T, Hapag Lloyd and Citibank. The property is managed by CBRE.

The property has been valued at approximately US$ 220 million. Canadian pensions are building relationships with local Indian real estate experts, sourcing out long-term property investments.

“SP Infocity IT Park is a high-quality property and is an excellent first acquisition for SPREP,” said Andrea Orlandi, Managing Director, Real Estate Investments, CPPIB in a press release.

In January 2015, U.S.-based New Vernon Capital bought out Shapoorji Pallonji’s 51% stake in SP Infocity. The deal gave New Vernon Capital 100% of the property post-transaction.

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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