Canada Pension Covets Asian Private Equity, R/E Opps.

Feb 26 2008 | 11:07am ET

The C$119.4 billion US$118.6 billion) Canada Pension Plan Investment Board next month will open an office in Hong Kong to focus on investment opportunities in Asia. The CPP Investment Board team in Hong Kong will source private equity and real estate investment opportunities with an initial focus in North Asia including the China, Hong Kong, Japan, South Korea and Taiwan markets.

“As a global investor, the opening of our office in Hong Kong is the next natural step as we grow our organization internationally,” said David Denison, president and CEO.

Not wasting any time, the CPP Investment Board has made a US$200 million investment in FountainVest, a newly established private equity fund focused on investing in private enterprises in China. The CPP Investment Board will act as lead co-sponsor along with the Ontario Teachers' Pension Plan.

”This investment in China illustrates the importance of the new office and underscores the CPP Investment Board's commitment to the region," said Denison. “With this commitment, the CPP Investment Board now has over C$1 billion (US$993.1 million) committed to private equity and real estate investments in Asia.

The CCP Investment Board is also planning to unveil a second international office later this year in London.


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