Canada Pension Plan Investment Board is exploring the sale of about $1.5bn in Asia-focused private equity fund stakes as the pension investor seeks to rebalance its portfolio, says Bloomberg.

The potential transaction would involve interests in funds managed by Hillhouse Investment, Bain Capital, and PAG. Some sources cited in a Bloomberg report have said the process is ongoing and the plans could still change.

CPPIB began searching for advisers earlier this year to support the potential sale. The stakes include investments made during the mid-2010s when the pension fund committed capital to several Asia private equity strategies.

The move reflects a broader trend among institutional investors using secondary transactions to generate liquidity and optimise portfolios.

Private equity represents a major part of CPPIB’s investment strategy. The pension fund held C$225.4bn in private equity assets at the end of 2025, accounting for more than a quarter of its C$780.8bn in total assets.

The potential sale also highlights growing activity in the secondary market as investors navigate a slower exit environment.

Recent reports indicate another Canadian pension investor, Caisse de Depot et Placement du Quebec, is also considering selling about $1.5bn in China-focused private equity fund stakes.

Industry data suggests the imbalance between supply and capital in secondaries has widened as exits slowed across private markets.

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