The fund completed 26 private equity transactions, mainly co-investments and fund commitments, with several deal sizes undisclosed and no recorded exits during the period.

The pension giant, Canada’s largest, recorded a 3.8% return in the quarter, driven by strong private equity and credit gains. These returns were partially offset by losses in fixed income due to rising US Treasury yields. CPPIB’s net assets neared C$700bn ($489bn), hitting this milestone five years ahead of initial projections by Canada’s Chief Actuary.

CEO John Graham highlighted the fund’s active investment strategy, noting that more than 40 deals were signed or closed in the quarter. Among its key transactions, CPPIB acquired a 24.5% stake in video-game services firm Keywords Ventures Ltd., committed $700m to an EQT Private Capital Asia-managed fund, and pledged about $1bn to the proposed merger of packaging firms Novolex and Pactiv Evergreen Inc.

The shift toward private equity comes as institutional investors allocate more capital to the sector over private debt. According to iCapital, which oversees $200bn in alternative assets, this trend reflects expectations of lower interest rates and a more favorable environment for IPOs.

Source: Bloomberg

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