Canadian defined benefit plan sponsors are holding an almost equal amount of fixed income and equity in their portfolios, according to the Pension Investment Association of Canada’s 2019 asset mix report. The report found the PIAC’s membership reported a total of more than $2.2 trillion under management last year, up from just under $2.1 trillion in 2018. As well, […]
The purchase offer for Cirque du Soleil from its secured creditors risks eliminating Quebec’s longstanding presence as a shareholder and causing losses of tens of millions of dollars to two of the province’s largest institutional investors. A US$1.2-billion takeover proposal by a group of debt holders, which was approved on Friday as the benchmark bid […]
The Caisse de dépôt et placement du Québec, along with French utility company Engie, is acquiring the remaining 10 per cent stake in Brazilian oil and gas transportation network company Transportadora Associada de Gás. Together, the two entities bought 90 per cent of the enterprise in 2019. The latest transaction is valued at about €160 million and brings Engie’s […]
The Ontario Municipal Employees Retirement System is acquiring a 19.99 per cent stake in TransGrid, an Australian electricity infrastructure company. The organization’s high-voltage transmission network connects around eight million people to the electricity supply. With a high proportion of regulated business making up about 90 per cent of its leased assets, TransGrid offers investors like […]
Morningstar Inc. is taking aim at the disparate ESG disclosure requirements still hampering the investment industry. In a recent report, Morningstar explored some of the issues hindering ESG measurement tools. “Simply put, ESG disclosures from issuers are all too often inconsistent and non-comparable and material information is not always available.” One key problem, it noted, […]
The Caisse de dépôt et placement du Québec is lending financing to Medicom Inc., a Quebec-based manufacturer and distributor of infection control products. The company, which also specializes in personal protective equipment, including medical grade face masks and gloves, has operations in North America, Europe and Asia. Through 13 distribution centres and 10 plants, it serves the health care and industrial […]
As private equity investments become more commonplace in pension fund portfolios, is the asset class really worth it? According to a paper by Ludovic Phalippou, professor of financial economics at the University of Oxford’s Saïd Business School, private equity funds have failed to outperform equities over a 10-year period. But the real catch is the […]
The Public Sector Pension Investment Board saw a negative 0.6 per cent return for its last fiscal year, which ended March 31, 2020. Severe market declines in the lead up to the end of March took a heavy toll. However, the fund did outperform its reference portfolio’s benchmark, which posted a negative 2.2 per cent […]
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 […]
Canada’s 11 largest pension funds should be able to maintain their current credit ratings through ongoing market turmoil, according to Fitch Ratings Inc. Nevertheless, return expectations are under significant pressure from the economic fallout of the coronavirus pandemic, said the ratings agency in a new report. “Fund performance will depend on asset mix, which is largely […]