Canada Pension Plan Investment Board (CPP Investments) announced that it has completed the sale of a diversified portfolio of 33 limited partnership fund interests to Blackstone Strategic Partners and Ardian, two major global private markets investors.
The transaction generated net proceeds of approximately C$4 billion for CPP Investments after certain costs and adjustments.
According to the company, the sale was executed as part of its active portfolio management strategy. The portfolio consisted of private equity fund interests accumulated over roughly 20 years and represented a diverse set of investments across multiple funds.
Blackstone Strategic Partners, Blackstone’s dedicated secondaries platform, manages approximately US$100 billion in assets across secondaries, co-investments, primary advisory, and GP stakes. Ardian manages or advises approximately US$200 billion on behalf of more than 1,920 clients worldwide across private equity, real assets, and credit strategies.
CPP Investments said the transaction supports its ongoing approach to portfolio optimization and capital allocation while managing assets on behalf of Canada Pension Plan contributors and beneficiaries.
KEY QUOTE:
“This transaction was undertaken as part of our active portfolio management activities. As a systematic buyer and seller in the secondaries market, this sale provided an attractive opportunity to optimize our exposure and supports disciplined capital allocation across our portfolio as we manage the CPP Fund in the best interest of CPP contributors and beneficiaries.”
Tom Kapsimalis, Managing Director, Head of Secondaries, CPP Investments
