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Canada Pension Plan Investment Board (CPPIB)

Sun Jul, Solukus.com on 19th Jul 2023

- The CPPIB was established by an Act of Parliament in December 1997⁵.

- The CPPIB is owned by the CPP, which is a joint federal-provincial program that provides retirement income to Canadians³. The CPP is funded by contributions from workers, employers and self-employed persons, as well as income earned on CPP investments¹¹.

- The CPPIB's income consists of investment income and net transfers from the CPP. In fiscal year 2022, the CPPIB had a net income of $34 billion and received net transfers of $8 billion from the CPP¹³.

- The CPPIB's total net worth is measured by its net assets, which are the value of its investments and investment liabilities. As of March 31, 2022, the CPPIB had net assets of $539 billion¹³.

- The CPPIB has completed many projects across various asset classes, such as private equity, infrastructure, real estate and credit. Some examples of projects completed in fiscal year 2022 are:

- Acquiring a 50% stake in Enbridge's French offshore wind projects for $1.8 billion¹³.

- Investing $1.5 billion in a joint venture with Brookfield to acquire a portfolio of U.S. multifamily properties¹³.

- Partnering with BC Partners to acquire CeramTec, a German manufacturer of ceramic products, from existing owners¹⁷.

- The CPPIB has invested in several projects in Markham, Ontario, which is part of the Greater Toronto Area. Some examples are:

- Acquiring a 50% interest in Markham Centre Campus, a mixed-use development project that includes office, retail and residential space¹³.

- Investing in SmartCentres REIT, which owns and operates shopping centres across Canada, including one in Markham¹³.

- Participating in a $2 billion financing for Constellation Software, a Markham-based provider of software and services to various industries¹³.

- The CPPIB has invested in many projects in Ontario, which is Canada's most populous province. Some examples are:

- Acquiring a 40% stake in Bruce Power, which operates the largest nuclear power plant in the world located in Tiverton, Ontario¹³.

- Investing $1.4 billion in Pattern Energy Group, which owns and operates renewable energy projects across North America, including several wind farms in Ontario¹³.

- Partnering with Oxford Properties Group to develop The HUB, a 1.4 million square foot office tower in downtown Toronto¹³.

- The CPPIB has invested in numerous projects in Canada, which is the second-largest country in the world by land area. Some examples are:

- Acquiring a 45% interest in Coastal GasLink Pipeline, which will transport natural gas from northeastern British Columbia to the LNG Canada facility on the west coast¹³.

- Investing $2.5 billion in Galileo Green Energy, a platform that develops and operates renewable energy projects across Europe and Canada¹³.

- Partnering with Alberta Investment Management Corporation and OMERS to acquire AltaGas Canada, which owns and operates natural gas distribution utilities and renewable power generation assets across Canada¹³.

- The CPPIB has many ongoing projects that span different sectors, regions and stages of development. Some examples are:

- Developing Port Covington, a 235-acre waterfront mixed-use project in Baltimore, Maryland, with an estimated total cost of $5.5 billion¹³.

- Expanding its presence in India by investing $1.2 billion in renewable energy platforms and $0.6 billion in real estate platforms¹³.

- Pursuing opportunities in emerging markets such as Brazil, China and Indonesia through various funds and partnerships¹³.

- The CPPIB has about 1,900 employees who work across its global offices in Toronto, London, Hong Kong, New York, São Paulo, Luxembourg, Mumbai and Sydney¹³.

(1) Canada Pension Plan Investment Board (CPPIB) - SWFI. https://www.swfinstitute.org/profile/598cdaa50124...

(2) Canada Pension Plan Investment Board (CPPIB) - Corporate Mapping Project. https://www.corporatemapping.ca/profiles/canada-p...

(3) Canada Pension Plan - Wikipedia. https://en.wikipedia.org/wiki/Canada_Pension_Plan...

(4) CPP Investments Net Assets Total $539 Billion at 2022 Fiscal Year-End. https://www.cppinvestments.com/public-media/headl...

(5) CPP Investments Announces Commitment to Net Zero by 2050. https://www.cppinvestments.com/public-media/headl...

(6) Home | CPP Investments. https://www.cppinvestments.com/.

(7) CPP Investment Board - Wikipedia. https://en.wikipedia.org/wiki/CPP_Investment_Boar...

(8) Canada Pension Plan | The Canadian Encyclopedia. https://www.thecanadianencyclopedia.ca/en/article...

(9) Our Mandate | CPP Investments. https://www.cppinvestments.com/about-us/our-manda...

(10) Biographical Notes of the Board of Canada Pension Plan Investments. https://www.canada.ca/en/department-finance/news/...

(11) CPP Investments and BC Partners Announce New Ownership for CeramTec. https://www.cppinvestments.com/public-media/headl...

(12) F2022 Annual Report | CPP Investments. https://www.cppinvestments.com/the-fund/our-perfo...

(13) ANNUAL REPORT 2021 - CPP Investment Board. https://www.cppinvestments.com/wp-content/uploads...

(14) Legislative Summary of Bill C-26 - Parliament of Canada. https://lop.parl.ca/sites/PublicWebsite/default/e...

(15) Annual report of the Canada Pension Plan for fiscal year 2020 to 2021. https://www.canada.ca/en/employment-social-develo...

(16) Canada Pension Plan investing board posts 1.3% return for year. https://financialpost.com/fp-finance/canada-pensi...

(17) Annual report of the Canada Pension Plan for fiscal year 2019 to 2020. https://www.canada.ca/en/employment-social-develo...

(18) Canadian Pension Fund embroiled in senior care scandal. https://cupe.ca/canadian-pension-fund-embroiled-s...

(19) Frequently Asked Questions | CPP Investments. https://www.cppinvestments.com/faqs/.

(20) Canada’s Largest Federal Pension Plan Divests From US ... - Forbes. https://www.forbes.com/sites/morgansimon/2021/03/...

(21) Canada Pension Plan Investment Board Act, SC 1997, c 40. https://www.canlii.org/en/ca/laws/stat/sc-1997-c-...

(22) Governance Consolidated Financial - CPP Investment Board. https://cdn3.cppinvestments.com/wp-content/upload...

(23) Report on Public Sector Pension Plans as at March 31, 2021. https://www.canada.ca/en/treasury-board-secretari...

(24) The Fund | CPP Investments. https://www.cppinvestments.com/the-fund/.

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