Pension Pulse

CPP Investments issued a press release on Monday that alongside EQT and Temasek, it completed the acquisition of Keywords Studios: London, U.K. (November 4, 2024) – Canada Pension Plan Investment Board ( CPP Investments ), alongside EQT and Temasek, has completed the acquisition of Keywords Studios, the leading international video games service provider. CPP Investments invested approximately US$515 million for a 24.5% stake in the business. Keywords Studios’ ordinary shares have ceased trading on the U.K.’s AIM market and the company has been delisted from the London Stock Exchange. Since its admission to the U.K.’s AIM market in July 2013, Keywords Studios has become the trusted global solutions provider to the world’s leading video games and entertainment companies, working with them across the full content development cycle, from concept through to launch and beyond. Keywords Studios has an excellent track record of evolving their business model to meet its clie

Andrew Willis, Tim Kiladze and Irene Galea of the Globe and Mail report BCE shares drop 9% after paying $5-billion for U.S. internet provider Ziply and pausing dividend hikes: Bell Canada parent BCE Inc. is expanding into the United States by acquiring internet provider Ziply Fiber for $5-billion, while also putting dividend hikes on hold in order to help fix its balance sheet. Investors showed frustration with the news by sending BCE’s stock 9 per cent lower in early trading on Monday. The company’s shares, now worth around $40.50 each, are trading for the same price they did in late 2011. With the acquisition, announced Monday, Canada’s largest telecommunications company will operate in four U.S. states in the Pacific Northwest – Washington, Oregon, Montana and Idaho – and provide fiber internet services to 1.3 million residential and business locations. BCE hopes to upgrade more of Ziply’s copper wire network to faster fiber over the next four years, bringing its total

Hakyung Kim and Alex Harring of CNBC report Dow closes nearly 300 points higher to begin November as investors shake off weak jobs report: Stocks rallied Friday to kick off November as Amazon led big technology stocks into the green and traders looked past a disappointing jobs report. The Dow Jones Industrial Average gained 288.73 points, or 0.69%, ending at 42,052.19. The S&P 500 advanced 0.41% to close at 5,728.80, and the Nasdaq Composite rose 0.8% to 18,239.92. Amazon rallied 6.2% as strength in the cloud and advertising businesses propelled the e-commerce giant above Wall Street’s earnings expectations. Intel popped 7.8% after exceeding analysts’ forecasts for revenue and offering strong guidance. The two stocks helped lift investor sentiment following some notable earnings disappointments this week. Megacap tech stocks are still “the tail wagging the dog,” said Rob Williams, chief investment strategist at Sage Advisory. “You’re seeing some broadening, but it’s sti

Benefits Canada reports world's 500 largest asset managers’ AUM up 12.5% in 2023: The world’s 500 largest asset managers’ assets under management increased by 12.5 per cent to US$128 trillion in 2023, compared to $113.7 trillion at the end of 2022, according to a new report by WTW’s Thinking Ahead Institute. It noted the annual growth rate represents a significant recovery from the major correction seen in 2022, when the total value of AUM dropped by $18 trillion. According to the report, this is the first time passive investment strategies have accounted for more than a third (33.7 per cent) of total AUM. Allocations to core equity (48.3 per cent) and fixed income (29 per cent) remained the dominant asset classes for institutional investors. The report noted the combined total for equities and fixed income marked a slight decrease (0.2 per cent) compared to the previous year as institutional investors have shown a renewed interest in alternatives like private equity

Amy Johnson of BTR News reports Mitre Yard BTR acquired by AIMCo and Ridgeback JV: Alberta Investment Management Corporation (AIMCo) and investor, developer and operator Ridgeback Group have acquired the Mitre Yard Build to Rent development in North Kensington from City & Docklands. The Northwest London development comprises 241 apartments alongside over 5,000 sq ft of commercial space and extensive resident amenity. “We are pleased to complete the acquisition of Mitre Yard, adding to our best-in-class UK Build to Rent portfolio. “The last few years have clearly demonstrated the strength of the Build to Rent sector as we have continued to see demand for high quality rental homes increase and we are delighted to be continuing our long-term partnership with AIMCo.” George Bossom, Partner, Ridgeback Group Situated adjacent to the Old Oak Opportunity area and the under-construction Old Oak Common railway station, which will serve both HS2 and Crossrail, Mitre