Pension Pulse

The Canadian Press reports  CPP Investments forms real estate joint venture with California-based IRA Capital: The Canada Pension Plan Investment Board has signed a deal to form a joint venture with California-based private equity firm IRA Capital to invest in medical outpatient buildings. CPP Investments has allocated an initial US$143 million of equity capital to the joint venture. It will hold a 47.5 per cent stake. The partners have agreed to acquire an initial portfolio of 24 properties across 11 U.S. states to start. Sophie van Oosterom, managing director and head of real estate at CPP Investments, says the venture will target modern outpatient care facilities in growing U.S. communities. Founded in 2010, IRA Capital specializes in real estate investments with a focus on commercial real estate assets in the U.S.  Last week, CPP investments issued a statement on this deal:  CPP Investments allocates initial US$143 million of ...

Layan Odeh of Bloomberg reports  Ontario Teachers’ reroutes some cash into public markets:  Ontario Teachers’ Pension Plan chief executive Jo Taylor said that the pension is “warehousing” capital in public markets after selling several assets within its private market portfolio last year. The pension plan “sold some private equity assets” and “ our plan is to reinvest that capital ,” Taylor said in an interview with Bloomberg TV in Davos. “We are really just warehousing it until we know where we want to redeploy it.” Ontario Teachers’ struck deals to sell some assets last year, including its stakes in airports in Copenhagen and Brussels, as well as three airports in the United Kingdom. The pension plan also agreed to sell its majority stake in India’s Sahyadri Hospitals Group. The pension plan, which manages $269.6 billion of assets, reduced its exposure to the United States dollar and treasuries in the first quarter of last year, Taylor said, citing the “risk of a def...

Rian Howlett , Karen Friar and Laura Bratton of Yahoo Finance report the Dow, S&P 500 cap volatile week with back-to-back weekly losses: US stocks were mixed on Friday, as Wall Street capped a turbulent week stoked by President Trump's heated pursuit of Greenland , while chipmaker Intel ( INTC ) sank after its earnings disappointment. The Dow Jones Industrial Average ( ^DJI ) retreated roughly 0.6%. The S&P 500 ( ^GSPC ) rose slightly, and the Nasdaq Composite ( ^IXIC ) gained 0.2%. All three major indexes posted back-to-back weekly losses. Intel posted worse-than-expected first quarter guidance late Thursday, raising concerns about its turnaround. The chip giant swung to a quarterly loss as it struggled to meet demand for its server chips used in AI data centers. Shares sank over 16% Friday.t Stocks recorded weekly losses for the second week in a row as the relief that lifted stocks for two straight days of gains wore off. After a rough start to a holiday-shorten...

Layan Odey of Bloomberg reports  BCI’s $182 billion pension fund names Jon Salon head of private equity unit:  British Columbia Investment Management Corp. named Jon Salon as the new global head of private equity, succeeding industry veteran Jim Pittman, who is leaving the pension plan at the end of the month. Salon, who will assume the role next month from New York, joined the pension manager in 2024 after leading Cigna Group’s Evernorth Health Services. Prior to that, Salon spent about 15 years at buyout firm Bedford Funding, where he was a founding partner. “Jon has been an exceptional addition to our private equity leadership, and I’m pleased to welcome him to BCI’s executive management team in this new capacity,” Chief Executive Officer Gordon J. Fyfe said in a statement seen by Bloomberg. Since joining BCI in 2016, Pittman grew the private equity unit from a C$7 billion ($5.1 billion) into a C$36 billion business, while broadening the strategy and expanding its g...

I am publishing two comments today since I didn't publish yesterday. James Bradshaw of the Globe and Mail reports three senior executives resign from CAAT pension plan: Three of the most senior executives at the CAAT Pension Plan resigned without explanation this week, as chief executive officer Derek Dobson cited a need for “the right alignment of our executive team” in a memo to staff. Chief investment officer Asif Haque, chief financial officer Mike Dawson and chief pension officer Evan Howard resigned on Monday, according to a company-wide e-mail reviewed by The Globe and Mail. Mr. Dobson did not provide a reason for their departures to plan staff, but he wrote that all three executives “are leaving the organization on good terms” in the e-mail sent Tuesday afternoon. A spokesperson for CAAT confirmed the resignations in an e-mailed statement on Wednesday that did not explain why they are leaving but said that the plan “is in strong financial shape.” Mr. Haque, Mr...

Alex Harring of CNBC reports  Danish pension fund to sell $100 million in Treasurys, citing ‘poor’ US government finances:  Danish pension operator AkademikerPension said it is exiting U.S. Treasurys because of finance concerns as Denmark spars with President Donald Trump over his threats to take over Greenland. Anders Schelde, AkademikerPension’s investing chief, said the decision was driven by what it sees as “poor [U.S.] government finances” amid America’s debt crisis . But it also comes as tensions escalate between the U.S. and Denmark after Trump’s latest threats to tariff European countries if Greenland, an arctic territory of Denmark, isn’t sold to the U.S. “It is not directly related to the ongoing rift between the [U.S.] and Europe, but of course that didn’t make it more difficult to take the decision,” Schelde said in a statement to CNBC. The fund currently has a position of around $100 million in U.S. Treasurys, an AkademikerPension spokesperson confirmed ...