CPPIB revamps $80 bln PE program to extend global deal reach

Canada Pension Plan Investment Board, the world’s biggest institutional investor in private equity, is reorganizing its program to access a broader set of PE opportunities in a challenging market environment.

The initiative was set in motion nine months ago, when Senior Managing Director Shane Feeney was appointed global head of PE.

Feeney’s job, a new one at the $368 billion pension fund, marked the end of two investment departments and created an amped-up PE platform that unites the once divided areas of direct investing, funds, secondaries and Asian investing.

The new platform amasses assets worth $80.3 billion at the end of September. It also brings together more than 100 investment pros located worldwide.

Feeney told Buyouts the goal of the reorganization is to further enhance CPPIB’s ability to make long-term investments across a “breadth of deals and structures in the global market.”

The result, he said, will be especially significant “on the origination side.”

“We need to see as many attractive opportunities as we can, as much deal flow coming through the funnel as possible, to scale assets with the best risk-adjusted returns across products and geographies,” Feeney said.

This story originally appeared in Buyouts, published by Buyouts Insider. Subscribers can read the full story by clicking here. To subscribe to Buyouts, click here.