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Investors - FEBRUARY 13, 2017

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CPPIB commits $375m to Asian real estate fund

by Andrea Waitrovich

The $C298.1 billion ($227.8 billion) CPP Investment Board has committed $375 million to Secured Capital Japan Real Estate Fund VI, managed by PAG, which focuses on distressed debt and off-market acquisition opportunities in commercial real estate, primarily in Japan with additional opportunities in South Korea and China. CPPIB’s investment represents an approximately 25 percent stake in the investment vehicle.

CPPIB has been actively increasing its Asian exposure. Recently, CPPIB committed $375 million to Raffles City China Investment Partners III, CapitaLand’s third integrated development private investment vehicle in China. CPPIB’s investment represented a 25 percent stake in the investment vehicle.

CPPIB also entered into a second joint venture with Longfor Properties Co. to invest in Chongqing West Paradise Walk shopping center in China. CPPIB committed approximately C$193 million ($147 million) for a 49 percent interest in the property. West Paradise Walk is

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