CPP Investments makes $325m U.S. commitment, $1.9b overseas commitments

The $541.5 billion Canada Pension Plan Investment Board has committed $325 million to Angelo Gordon’s Essential Housing Fund II, a fund designed to provide off–balance sheet financing for homebuilders to enable them to assemble development-ready land, according to its second quarter report.

“CPP Investments delivered strong results this quarter to achieve a record 10-year annualized net return of 11.6 percent, reflecting the benefits of diversification and investment selection,” said John Graham, president and CEO. “As we emerge from the impact of the global pandemic, our teams continue to execute across the organization to deliver sustainable long-term growth for the fund.”

The fund’s quarterly results were driven by an increase in the value of all private equity programs, contributions from real assets and credit investments, and gains from foreign exchange as the fund benefitted from a rebound in the U.S. dollar against the Canadian dollar.

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