The Canada Pension Plan Investment Board (CPPIB) is to establish new offices in New York and Brazil, alongside existing bases in London and Hong Kong, and its Toronto headquarters, according to the Wall Street Journal.
The New York office is expected to open in January, while the São Paulo office does not yet have a clear timeline. The New York office will see the institutional investment giant move closer to one of the world’s major financial centres, while the firm is already an active investor in Brazil and Latin America.
In October CPPIB teamed with BTG Pactual SA to invest in Brazilian residential real-estate projects. It also recently partnered with US private equity firm Ares Management for the $6bn acquisition of retail group Neiman Marcus.
CPPIB invests in public equities, private equities, bonds, real estate and infrastructure. The Fund’s current assets total over $170bn, ranking it among the ten largest retirement funds in the world. Assets are projected to reach $275bn by 2020 and more than $1tn by 2050.
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