CPPIB buys Australia Future Fund's $1bn PE portfolio

The portfolio included about a third of Future Fund's stake in Charterhouse Capital Partners Fund IX.

The Canada Pension Plan Investment Board (CPPIB) has acquired a portfolio of private equity stakes worth around $1 billion from Australia’s Future Fund it attempts to rebalance its portfolio.

The sovereign wealth fund came to market last year with the stakes in a process run by Toronto-based Setter Capital, according to three sources familiar with the deal, Secondaries Investor reports.

The deal closed in early January. Around half the portfolio included a A$500 million ($358 million; €326 million) exposure to funds managed by Los Angeles-headquarted Oaktree Capital Management, and the portfolio sold for close to par, according to a report in The Australian.

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