Pension Pulse

IPE reports that CPPIB just bought a toll road stake as a debut infrastructure investment in Indonesia:
Canada Pension Plan Investment Board (CPPIB) has made its debut infrastructure investment in Indonesia with the acquisition of a 45% stake in the Cikopo-Palimanan (Cipali) toll road.

CPPIB is partnering PT Baskhara Utama Sedaya (BUS) to jointly acquire the 55% stake, in the concession holder and operator PT Lintas Marga Sedaya (LMS), currently held by PLUS Expressways International.

BUS is an existing owner of 45% of LMS and will increase its stake to 55%. CPPIB will acquire the remaining 45% stake in LMS for an undisclosed sum.

The 117km Cipali toll road is one of the longest operational toll roads in Indonesia and a critical link in the transportation network of the island of Java, as part of the Trans Java Toll Road network.

Scott Lawrence, managing director, head of infrastructure, CPPIB, said: “Cipali toll road provides CPPIB access to a vital infrastructure development supported…

Hugo Joncas of TVA Nouvelles wrote an article discussing why a director of the Caisse's real estate lending subsidiary, Otéra Capital, was fired back in May. The article is in French but I used Google translate and some editing so my readers can get the gist of it:
The Caisse de dépôt dismissed a director of its subsidiary Otéra Capital, Yvon Tessier, in the wake of its investigation into ethical issues in May.

The director had to leave the board of directors of Otéra, where he had sat for eight years.

At a press conference, the Caisse confirmed the departure of three executives. Our Investigation Office had already identified them in February and March in a series of reports on mafia ties and ethical sprains of executives of Otéra, specialized in real estate financing.

The Caisse also mentioned that a fourth person "related to Otéra" no longer "holds functions", following the independent investigation of Osler, Hoskin & Harcourt, triggered at the beginnin…

Viktor Ferreira of the Financial Post reports that one of Canada's largest pension funds forgot to disclose $2.46 billion in Canadian holdings to the SEC — and it's not the first time:
One of Canada’s largest pension funds “inadvertently omitted” all of its Canadian holdings from a recent disclosure it made to the U.S. Securities and Exchange Commission, failing to include about US$2.46 billion in investments.

British Columbia Investment Management Corporation made the omission in February, when it submitted its disclosures for the three months ending on Dec. 31, 2018. The pension fund, which has $145.6 billion in assets under management, failed to disclose holdings in 98 companies, primarily across Canada’s energy, banking and mining sectors. The Canadian holdings accounted for more than 20 per cent of its total disclosed investments.

BCI, which manages the pensions of B.C.’s public sector workers, said it only discovered that it had omitted these investments following inqu…