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Private Investments (PI) is responsible for all of CPPIB’s private investments globally, excluding real estate. By investing in private equity, infrastructure and private debt, PI seeks opportunities that will outperform comparable passive public alternatives.

 

 

 

Funds, Secondaries & Co-Investments

Funds, Secondaries & Co-Investments currently manages more than $45 billion in carrying value and unfunded commitments and maintains relationships with more than 80 general partners, globally, in pursuit of investments that will outperform public benchmarks. With investment professionals in Toronto, London and Hong Kong, Funds, Secondaries and Co-Investments is comprised of three business units:

·  Funds: The Funds team is based in Toronto and London and focuses on large- and middle-market buyout and growth equity funds in North America, Europe and Latin America, with minimum target fund sizes of $750 million in developed markets and $500 million in emerging markets. Additionally, the Funds team seeks opportunities to selectively back first or second time funds with limited realized track records or institutional history. Our minimum fund commitment is $75 million. Screening of potential investments is based on various factors, including the expectation of outperformance relative to public benchmarks and the potential for strategic partnering opportunities.

· Secondaries & Co-Investments: The Secondaries & Co-Investments team is based in Toronto and London and focuses on transactions in North America, Europe and Latin America. Our Secondaries program focuses on two types of transactions: (i) "LP Secondaries" which is the acquisition of existing limited partnership interests through the secondary market, and (ii) "Portfolio Liquidity Solutions" which are whole fund solutions to either spin out captive teams within financial institutions or restructure existing funds to provide investors with an option for liquidity. We target investments of $100 to $500 million, with a minimum investment of $25 million and no predetermined maximum. Our Co-Investment program focuses on minority investments alongside our Private Equity partners, with a target investment size of $50 to $125 million, with a minimum investment of $25 million.

· Private Equity Asia: Private Equity Asia is based in Hong Kong and focuses on private equity investments in the Asia Pacific region through Funds, Direct Investments and Secondaries. For Funds, the team makes commitments to both pan-Asian and country-focused private equity funds in China, Japan, Korea, India and Australia, with minimum fund sizes of $500 million.  Private Equity Asia also makes Direct Investments in Asian companies in both co-investment and co-sponsorship situations with general partners and certain other qualified non-GP partners.  The team also reviews Secondaries opportunities from other limited partners.