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 Canada Pension Plan Investment Board is among a group of organizations participating in the first external investment round for Waymo, a California-based autonomous driving technology development company. Alongside other investors, the round raised US$2.25 billion. The company’s Waymo Driver has driven more than 20 million miles on public roads across more than 25 cities, as well as […]
Scotiabank is expanding its maternity and parental leave top-up pay for Canadian employees and providing access to a virtual health-care program. Eligible employees will receive six weeks of parental leave top-up pay at 100 per cent of salary, which supplements employment insurance maternity and parental benefits. As such, birth mothers will receive 12 weeks of […]
The Public Sector Pension Investment Board, along with a consortium of other investors, is acquiring a majority stake in Lytx Inc., a video-telematics company. The investment, which was headed by global private equity firm Permira, included the Canada Pension Plan Investment Board, an affiliate of GIC Private Ltd. and HarbourVest Partners in the deal. The […]
The Ontario Teachers’ Pension Plan is appointing Cindy Forbes to its board, effective immediately. Currently, Forbes is global chief analytics officer at Manulife Financial Corp. and held an interim role as its global chief marketing officer for the past 10 months. She also spent six years as the company’s chief actuary. In addition, during more than 35 […]
Morneau Shepell Ltd. is selling its benefits consulting business to Hub International Ltd. The benefits component of Morneau Shepell’s consulting business, which represents about three per cent of its revenue, sold for $70 million. “We are very focused on our growth strategy, which includes being clear market leaders in the businesses in which we operate, […]
Cindy Forbes is joining the board of the Ontario Teachers’ Pension Plan effective immediately. Currently, Forbes is the global chief analytics officer for Manulife Financial Corp. and previously held the interim role of its global chief marketing officer for the past 10 months. She also spent six years as the company’s chief actuary. And, over […]
Private equity firms are increasingly buying out venture capital-backed companies, according to a report from Pitchbook. Indeed, between 2000 and 2019, the number of venture to private equity buyouts grew at a compounded annual growth rate of 18.1 per cent, compared with buyouts overall which only grew at 9.5 per cent. According to the report, […]
Global institutional investors believe asset managers need to up their technology game if they’re going to win the client-satisfaction war, according to a new report by Greenwich Associates. The report, which featured data from interviews with more than 150 senior decision-makers at large institutional investors in North America and Europe, found more than half believe their asset […]
To paraphrase philosopher Jean-Paul Sartre: hell is other people trapped in an office together all day long, at least according to the results of a new survey by career site Zety. The survey asked more than 1,000 American employees what drives them up the cubicle wall, how irritating those situations are and how often they happen. To whittle […]