31.10.2008 - CPPIB targets C$1.4bn on distress realty
From Privateequityrealestate.net: The Canada Pension Plan Investment Board is setting aside C$1.4 billion ($1.17 billion; 903 million) to target distressed real estate opportunities in the US and UK. The C$127.7 billion pension fund would invest the money in addition to its existing real estate allocations, worth an estimated C$7.2 billion. CPPIB is expected to commit the capital to opportunistic real estate funds, such as those run by The Blackstone Group and Morgan Stanley, with Graeme Eadie, senior vice-president of real estate investments, telling local Canadian media direct investment partners might also be considered..... Full Article: Source
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