Latest news with #CanadaPensionPlanInvestmentBoard
Cision Canada
20 hours ago
- Business
- Cision Canada
CPP Investments Commits to $225 Million in Construction Financing for Ontario Data Centre
TORONTO, /CNW/ - Canada Pension Plan Investment Board (CPP Investments) today announced that it is providing funding to construct a 54 MW hyperscale expansion to a data centre in Cambridge, Ontario. CPP Investments will invest C$225 million in the project by way of a 50% interest in a construction loan, alongside Deutsche Bank Private Credit & Infrastructure, which served as the lead lender on this transaction and funded the remaining 50% of the loan. The data centre is being developed as a joint venture between Related Digital, a global, vertically integrated data centre development and investment platform, TowerBrook Capital Partners, an international investment management firm, and Ascent, a leader in planning, developing and operating data centres. The demand for hyperscale data centres in Toronto and the surrounding region is strong and the project has been pre-leased to a market-leading GPU-focused AI cloud compute provider on a long-term basis. "The rapid expansion of digital infrastructure—driven by accelerating demand for cloud services, data storage, and the transformative potential of artificial intelligence—is fueling strong growth in data centre development," said Geoffrey Souter, Head of Real Assets Credit. "CPP Investments has deep expertise in this sector and an investment in the construction financing of this project marks another milestone in advancing our global data centre strategy and strengthens our presence in the Canadian market." CPP Investments currently has data centre joint ventures and investments in key hubs globally, including North and South America, Asia Pacific, including Australia, and Europe, in addition to investments in publicly held companies that operate data centres in Canada and around the world. About CPP Investments Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Canada Pension Plan Fund in the best interests of the more than 22 million contributors and beneficiaries. In order to build diversified portfolios of assets, we make investments around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At March 31, 2025, the Fund totalled C$714.4 billion. For more information, please visit or follow us on LinkedIn, Instagram or on X @CPPInvestments. About Related Digital Founded by Related Companies, one of the most prominent, privately-owned real estate development firms in the United States, Related Digital is a vertically integrated data center development and investment platform. Related Digital combines Related Companies' 50-year+ track record of innovation and executing complex real estate and infrastructure projects with its expertise in real estate investing and developing large-scale clean energy solutions through its affiliated transmission line development and renewable energy business, energyRe. About TowerBrook Capital Partners TowerBrook champions founders, entrepreneurs and management teams as they grow and transform their companies, helping them become long-lasting leaders in their industries. Informed by deep industry expertise, it develops theses and then targets and invests with intentionality to build portfolios that deliver meaningful customer and shareholder value, and have a positive impact on society. TowerBrook invests through private equity, structured opportunities, growth & impact, and strategic partnerships, offering flexibility across the capital structure, and has over $23 billion of assets under management. It takes an entrepreneurial, multinational, single-team approach and since inception in 2001, has invested in more than 100 companies on both sides of the Atlantic. TowerBrook is the first mainstream private equity firm to be certified as a B Corporation, demonstrating leadership in commitment to responsible business practices.
Yahoo
a day ago
- Business
- Yahoo
CPP Investments Sells Stakes in Birmingham Joint Ventures to Hammerson
LONDON, July 31, 2025 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) today announced that it has reached a definitive agreement to sell its 50 per cent stakes in its Birmingham, UK Joint Ventures, the Bullring and Grand Central Shopping Centres, to its long-standing joint venture partner Hammerson Plc for £319 million. The Bullring forms the majority of the transaction and was sold at book value at a net initial yield of 6.4 % and a topped up net initial yield of 7.1%. Net proceeds for CPP Investments in total will be approximately C$615 million. The transaction is expected to close in August 2025. CPP Investments originally invested in a 16.7% interest in the Bullring in 2013 and, subsequently, increased its holding to 50% in 2022. The investment in Grand Central was made in 2016. The Bullring is a Top 5 shopping centre in the UK, featuring 1.3 million sq. ft. of prime retail space in Birmingham. Over the last 12 years, working in partnership with Hammerson, CPP investments has executed a targeted value‑creation plan. Since the increase in ownership in 2022, the joint venture raised occupancy at the Bullring from 86 per cent to 95 per cent and lifted net operating income by 23 per cent. Following tenancy changes during COVID-19, Grand Central is now being prepared for repositioning. "The Bullring has been a standout performer in our UK portfolio since our upsize in 2022, and we have worked closely with Hammerson to reposition the asset, increase occupancy and attract new anchor tenants" said Tom Jackson, Managing Director, Real Estate Europe, CPP Investments. "Today's sale agreement allows CPP Investments to crystallise the strong performance of Bullring and realise value created, delivering significant returns for the CPP's 22 million contributors and beneficiaries. With Hammerson taking ownership, both assets are well-positioned for a promising next phase under their experienced guidance." About CPP Investments Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At March 31, 2025, the Fund totalled C$714.4 billion. For more information, please visit or follow us on LinkedIn, Instagram or on X @CPPInvestments. SOURCE Canada Pension Plan Investment Board View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Times
a day ago
- Business
- Irish Times
Dundrum Town Centre owner Hammerson reports first increase in portfolio value since 2017
Dundrum Town Centre joint-owner Hammerson reported the first increase in the value of its portfolio since 2017, drawing a line under a torrid period for store owners that was marked by retailer closures and the pandemic. The company's portfolio of properties in Ireland, Britain and France was valued 11 per cent higher in the first half of the year, influenced by acquisitions and net revaluation gains. On a like-for-like basis, the portfolio value was up 1.2 per cent, with Ireland flagships up 1.6 per cent. It caps a big turnaround by the company, overseen by chief executive Rita-Rose Gagne, who announced earlier this year that she intended to retire five-years after taking the helm. Gross rental income in Ireland for the six months fell 2.1 per cent to £18.8 million, with Hammerson attributing that to a single over-rented unit in its Ilac Centre property, formerly occupied by River Island. That has since been re-let to Normal, the company said, that brand's first outlet in Ireland. Hammerson also said it plans to raise as much as 10 per cent of its existing share capital through a placing to fund the buyout of the remaining stakes that it does not already own in two Birmingham shopping centres. The property investment group plans to buy Canada Pension Plan Investment Board's 50 per cent interests in the Bullring and Grand Central malls for £319 million, according to a statement on Thursday. The landlord, which traditionally owned stakes in the properties it manages alongside institutional investors, has been moving to take full ownership of assets to give it more flexibility. European retail property is finally recovering after years of declining rents that wiped billions from store valuations. A lack of new development and the conversion of surplus retail properties to other uses has helped to bring supply and demand closer to equilibrium, with those retailers that survived the storm now competing for the limited space in the best malls. Rival mall landlord Unibail-Rodamco-Westfield reported a 1.2 per cent increase in its portfolio value in the six months through June. The company has continued to sell off properties to slash its debt pile, completing a further €1.6 billion of deals. The company has since agreed to sell its airport concessions at JFK, Los Angeles International, and O'Hare for $295 million. – Additional reporting: Bloomberg
Bloomberg
a day ago
- Business
- Bloomberg
Hammerson Launches Share Placing to Buy £319 Million Mall Stakes
UK landlord Hammerson Plc plans to raise as much as 10% of its existing share capital through a placing to fund the buyout of the remaining stakes that it does not already own in two Birmingham shopping centers. The real estate investment plans to buy Canada Pension Plan Investment Board 's 50% interests in the Bullring and Grand Central malls in the UK's second city for £319 million ($423 million), according to a statement on Thursday. The landlord, which traditionally owned stakes in the properties it manages alongside institutional investors, has been moving to take full ownership of assets to give it more flexibility.
Mint
24-07-2025
- Business
- Mint
Canada Talks Up Pension Funds' Financial Muscle as Lever in US Trade Talks
Canada's major pension funds could boost their investments in the US, a top Canadian cabinet minister said, as the country looks to negotiate a trade agreement with the Trump administration. Dominic LeBlanc, the minister responsible for US trade, is in Washington for talks with US lawmakers. He brought up Canada's pension funds when asked if President Donald Trump will seek a specific pledge for more investment into the US. 'If they're looking for countries that invest massively in the United States, that's great news for Canada,' LeBlanc said in Washington after the meetings. 'Our pension funds alone have over $1 trillion of investment in the United States. That can potentially grow by $100 billion or more a year, and that's just the big nine Canadian pension funds.' The US has offered the idea of increased foreign investments as one option for some partners in exchange for more favorable trade treatment. Trump said this week that the US has reached a trade deal with Japan that includes a promise of a $550 billion Japanese-backed fund for investing in the US, though terms remain unclear. The US and South Korea have also discussed creating an investment vehicle for US projects, people familiar with the matter told Bloomberg News. LeBlanc stopped short of saying the government would force pension funds to increase their US assets or invest in specific American projects as a quid pro quo for lower tariffs from Trump. Canada's public pension managers are significant investors in US infrastructure and other assets. The largest, the Canada Pension Plan Investment Board, had 47% of its capital allocated to the US as of the end of March. Its recent US deals included a joint venture with Equinix Inc. to raise $15 billion to build new data centers, including in the US. But traditionally those pension funds are shielded from political interference in their investment decisions. CPPIB had C$714 billion under management as of March 31. Michel Leduc, a spokesperson for CPPIB, said in an interview that the fund is 'not part of any negotiations' and 'not being asked to invest more in the US,' though 'there's been some outreach from the Canadian government to understand the facts.' CPPIB is expected to grow to C$1 trillion by the early 2030s and 'obviously you will see the dollars being more significant in the US' with that growth, Leduc said. LeBlanc said he met with Commerce Secretary Howard Lutnick on Wednesday night and they had a 'productive, cordial discussion.' On Thursday he met with Republican senators including Tim Scott of South Carolina, Shelley Moore Capito of West Virginia and Roger Marshall of Kansas. But the minister was vague on the question of whether Canada can reach a trade deal with the US by Aug 1. Trump has threatened to hike US tariffs on Canadian imports to 35% on that day, up from 25% — though White House officials have suggested they'll continue exempting goods covered by the North American free trade pact known as USMCA. 'Canadians expect us to take the time necessary to get the best deal we can in the interest of Canadian workers,' LeBlanc said. He said Canada will only sign an agreement once Prime Minister Mark Carney 'decides that it's the best deal we can get.' Earlier this week, Carney himself lowered expectations for an agreement in the short term. He told reporters that Canada's aim 'is not to reach a deal whatever it costs,' but would instead use all the time it needs to reach the best outcome. Carney described the negotiations as complex, in part because the Trump administration has a number of objectives 'that change from time to time.' For now, the Canadian economy has some breathing room because many products, including Canada's vast exports of crude oil, fuel and fertilizer, are exempt from tariffs when they're shipped under the rules of the US-Mexico-Canada Agreement. Yet Canada still faces US tariffs and duties on a few key sectors: autos, steel, aluminum and lumber. Carney's team has been looking for a path forward on eliminating or at least reducing those tariffs. Kirsten Hillman, Canada's ambassador to the US, told reporters that American officials have taken note of Canada's recent actions to limit foreign steel imports — particularly from China. 'There is a time when the deal is the right deal, and it's important for us to be in a position to continue negotiating til we get to that point,' she said. 'Some of the measures that we're taking, including in steel last week, are designed to help us have the route that we need to get where we need to go.' This article was generated from an automated news agency feed without modifications to text.
