CPP Investments unveils new commitments, ends quarter with decrease in net assets

Canada Pension Plan Investment Board (CPP Investments) has disclosed a slew of new commitments and ended its first quarter of fiscal 2023 with $523 billion of net assets, compared with $539 billion at the end of the previous quarter.

In real estate, CPP Investments committed $300 million to the Hillhouse Real Asset Opportunities Fund (HRAOF), which aims to invest in the new economy real estate sectors in China focusing on life sciences, data centers and logistics.

CPP Investments also committed $225 million to KDV II, its second development joint venture with partners ESR and APG. KDV II invests in and develops a best-in-class industrial and warehouse logistics portfolio in the Seoul and Busan metropolitan areas of South Korea. CPP Investments holds a 45-percent stake in the joint venture.

CPP Investments noted that the $16 billion decrease in net assets for the quarter ending June 30 consisted of a net loss of $23 billion and $7 billion in net transfers from th