The Ontario Teachers’ Pension Plan is taking part in a US$1.78-billion financing round for Epic Games Inc., a U.S. video game and software developer. In addition to Ontario Teachers’ and other asset managers’ contributions, Sony Corp. is contributing US$250 million to the financing round. The fresh financing brings Epic Games to a valuation of US$17.3 […]
The Canada Pension Plan Investment Board is leading a new tranche of financing for animal-free dairy maker Perfect Day Inc. The financing marks an expansion of Perfect Day’s series C financing to $300 million, to which the CPPIB’s thematic investing group is set to contribute $50 million. The California-based company uses fermentation in microflora to […]
With its recent acquisition of environmental, social and governance data analytics provider Sustainalytics, Morningstar Inc. is taking aim at the disparate ESG disclosure requirements still hampering the investment industry. In a recent report, Morningstar sussed out some of the issues hindering ESG measurement tools. “Simply put, ESG disclosures from issuers are all too often inconsistent and […]
With volatility rattling public markets, fundraising for private equity deals took a tumble during the first quarter of 2020, according to a new report by the Callan Institute, which found fund closing dropped 39 per cent since the last quarter of 2019, while commitments were down 37 per cent. Many institutional investors suddenly find themselves over-allocated to […]
Close to a quarter (23 per cent) of institutional investors said they plan to reduce their cash balances, according to a new survey by BlackRock Inc. For fresh allocations, private markets remain the favourite by a wide margin. Indeed, more than half (55 per cent) of investors said they intend to up allocations to real […]
The British Columbia Investment Management Corp. is making a credit agreement with Knightsbridge Capital Group, an asset-based lender in Vancouver. “As BCI builds out our direct lending business for our clients, we value working with successful local businesses such as Knightsbridge Capital Group,” said Chris Beauchemin, vice-president of fixed income and foreign exchange at BCI. […]
For the first time, defined contribution plan assets are exceeding defined benefit holdings across the world’s six largest pension markets, according to new report by Willis Towers Watson’s Thinking Ahead Institute. The report also found DC plan assets have grown at a faster rate (8.4 per cent per annum) than DB plans (4.8 per cent per annum) […]
While it isn’t Canadian, the U.S. Securities and Exchange Commission certainly has plenty of power to affect assets held by Canadian pension plans. A number of proposed rule changes recently brought forward by the SEC are raising Canadian institutional investors’ eyebrows. The Pension Investment Association of Canada submitted two letters to the SEC addressing potential changes related to […]
The Laborers’ International Union of North America’s Central and Eastern Canada Pension Fund and Freed Developments Ltd. are jointly acquiring a mixed-use site in Toronto. Fengate Asset Management Ltd. is managing the purchase on behalf of the LiUNA, taking on 21,853 square metres in real estate from Allied Hotel Properties Inc. Currently, the site holds a six-story hotel and […]
The Ontario Teachers’ Pension Plan is leading a US$155-million round of financing for KRY, a European digital health-care provider. The financing was made through the Teachers’ Innovation Platform, which focuses on investments in late-stage venture and growth equity in disruptive technologies. Maggie Fanari, managing director on the TIP team at Ontario Teachers’, will also be joining […]