Canada Pension Plan discloses billions in investments

Canada Pension Plan Investment Board, Toronto, reported a large number of investments and commitments it made in the first and second quarters of fiscal 2023, according to news release Thursday issued along with its results for its first fiscal quarter that ended June 30.

CPP Investments, which manages the assets of the C$523 billion ($406.1 billion) Canada Pension Plan, said in the fiscal first quarter it closed a C$230 million investment in the term loans of Legal Search, a provider of property and corporate-related search services in Australia, the U.K., and the U.S., committed $160 million to Lumina Strategic Solutions Fund, a Brazil-focused special situations credit fund, and invested $100 million in a unitranche loan for IGT Solutions, a business process outsourcing company specializing in airlines, online ticket agencies and hospitality, with operations mostly in India and the Philippines.

Within private equity, CPP said it committed €400 million ($409 million) to buyout fund EQT X and $100 million to Trustar Capital V. “Trustar Capital Partners is the private equity affiliate of CITIC Capital focused on control-oriented buyouts in Greater China,” CPP said in the release. It also closed on a $50 million commitment to Radical Fund III, after formerly committing to Fund II as an anchor investor. Radical Ventures is a Toronto-based early-stage manager focused on artificial intelligence opportunities in Canada and the U.S., the release said.

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