Institution: Canada Pension Plan Investment Board
Headquarters: Toronto, Canada
AUM: CA$541.5 billion ($432 billion; €377 billion)
Allocation to alternatives: 61.6%
CPP Investments has approved a $325 million commitment to Angelo Gordon Essential Housing Fund II, according to a press release from the Canadian public pension fund.
Angelo Gordon, founded in 1988, is a US credit and real estate investment and advisory firm focused on the alternative market that offers a range of investment strategies to clients including high-net-worth individuals and institutional investors.
Launched in August 2021, the real estate debt vehicle will invest across North America, focusing on the multifamily and residential sectors. It is a fund designed to provide off-balance sheet financing for homebuilders to enable them to assemble development-ready land.
CPP Investments allocates 8.5 percent of its total investment portfolio to private real estate, which encompasses $46 billion in value.
As illustrated below, CPP Investments’ recent private real estate commitments have tended to focus on value-add and opportunistic vehicles that invest across the APAC region.
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