Name: Canada Pension Plan Investment Board
HQ: Toronto, Canada
AUM: C$529 billion ($393 billion; €383 billion)
Allocation to alternatives: 66%
CPP Investments has released a record of its private equity activity in Q3 2022, outlining commitments of more than $1.1 billion to the asset class, according to a press release from the Canadian pension.
A total of $700 million of that was allocated towards two buyout vehicles. A commitment of $400 million was confirmed to CVC Capital Partners Asia Pacific VI, with the other $300 million given to Clayton, Dubilier & Rice Fund XII.
CVC Capital Partners is a global alternative asset manager focused on private equity, secondaries and credit. The CVC Asia Pacific fund family is focused on investments in businesses in core consumer and services sectors across Asia.
Clayton, Dubilier & Rice focuses on upper mid-market/large value-orientated buyouts and build-ups in North America and Western Europe. Fund XII launched in May 2022 seeking $20 billion in investor capital, with the firm announcing a $10 billion first close in September 2022.
A further $105 million was also allocated between four cleantech/energy transition vehicles:
- $25 million to ArcTern Ventures Fund III. ArcTern is a Canadian early-stage cleantech investor founded in partnership with MaRS Discovery District.
- $30 million to Congruent Continuity Fund I. Congruent invests in cleantech start-ups in the US.
- $30 million to Evok Innovations Fund II. Evok invests in early-stage North American cleantech companies.
- €19 million to Klima Energy Transition Fund, which is managed by Alantra, an investor in later-stage venture capital and early-growth equity companies predominantly based in Europe.
CPP has also invested $316 million across the following growth equity or venture capital vehicles:
- Scale Ventures Fund VIII
- Ribbit Capital X
- Greenoaks Capital Fund V
- True Ventures Fund VIII
- Highland Europe Technology Growth Fund V
CPP Investments allocates 32 percent of its total investment portfolio to private equity, comprising C$169.3 billion in capital.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.
To access more CPP Investments insights, analysis and data, click here