Pension Pulse

Real Estate News Exchange reports CDPQ to integrate real estate subsidiaries Ivanhoé Cambridge, Otéra Capital: The Caisse de dépôt et placement du Québec (CDPQ) has become the latest major Canadian investor to initiate a dramatic realignment of its real estate holdings, announcing Wednesday that Ivanhoé Cambridge and Otéra Capital will become investment groups within its holdings. Although both Ivanhoé Cambridge and Otéra will retain their respective brands within the marketplace, the corporate services teams will be integrated with CDPQ’s teams. This is forecast to save up to $100 million in annual expenses, and will also result in the departure of Ivanhoé Cambridge president and CEO Natalie Palladitcheff when the integration is complete in 18 to 24 months. "This integration stems from a vision of an integrated CDPQ that maximizes its impact and performance to offer our depositors the best service for the most efficient cost” Charles Emond, president and chief execu...

CDPQ's real estate subsidiary, Ivanhoé Cambridge along with the leading Asia-Pacific logistics specialist LOGOS announced they will commit over INR 11 billion (C$180M) investment in Chakan Industrial Estate, Maharashtra becoming the largest FDI led integrated private industrial and logistics development in India: Mumbai, India – January 18, 2024 – The purchase follows Ivanhoé Cambridge and LOGOS’ acquisition in May 2023 of 77 acres within the Chakan Industrial area; a region that is considered one of Asia’s largest industrial hubs with more than 1,000 manufacturing enterprises including electronics, engineering, automobile and E-Vehicles companies . The combined 143-acre site will provide the opportunity for over 3.5 million square feet of development to meet the robust New Economy demand for prime industrial development in the region. With direct access from the 75-meter wide Talegaon Chakan Road to the Mumbai Pune Expressway and Mumbai-Be...

Last week, Andrew Willis, James Bradshaw and Sean Silcoff of the Globe and Mail reported that OMERS is looking to sell LifeLabs: One of the country’s largest pension plans has put Canada’s biggest medical testing company, LifeLabs Medical Laboratory Services, up for sale after building the business over 17 years, drawing interest from suitors based in the United States and Canada. Last year, Ontario Municipal Employees Retirement System (OMERS) hired investment banks to find a new owner for Toronto-based LifeLabs , according to four sources familiar with the sales process. Two of the sources said OMERS picked New York-based Evercore Group LLC to run the process and also brought in a Canadian bank. OMERS has invested more than $2.5-billion in LifeLabs and two of the sources said the asset manager is asking for a premium valuation on the business, well above the capital OMERS has put into acquisitions. LifeLabs has drawn multiple bidders, with two health care companies e...

Hakyung Kim and Lisa Kali Han of CNBC report the S&P 500 rallies 1% to all-time high, surpassing previous record set in 2022: The S&P 500 closed at an all-time high on Friday as investors returned to buying equities in force in recent days following a short-lived market stumble to start the new year. The broad market index rose 1.23% to settle at 4,839.81, surpassing both the prior record intraday and closing highs   from January 2022. Meanwhile, the Dow Jones Industrial Average , which set its own record at the end of last year, added 395.19 points, or 1.05%, to end at 37,863.80. The Nasdaq Composite advanced 1.70% to 15,310.97. The smaller, more tech-focused Nasdaq-100 gained 1.95% to also hit a record high. All three major averages are now in positive territory for 2024, with the 30-stock Dow going green during Friday’s rally. Following a 19% loss in 2022, the S&P 500 roared back in 2023, posting a 24% gain as the economy skirted a recession that many had exp...