Canadian Pension Plan invests in AMP Capital fund

Canadian Pension Plan invests in AMP Capital fund

The Canada Pension Plan Investment Board has taken a 50 per cent stake in AMP Capital’s New Zealand property portfolio.

The Canada Pension Plan and Investment Board (CPPIB) has partnered with the current portfolio owner, the Canada-based Public Sector Pension Investment Board, to become a 50 per cent investor in the NZ$1.1 billion (A$1.06 billion) portfolio, AMP Capital said.

According to AMP Capital head of real estate funds management Chris Judd, CPPIB’s investment demonstrated institutional investors’ confidence in New Zealand’s property market.

“This is CPPIB’s first investment into New Zealand, taking the opportunity to invest in a quality diversified property portfolio that is well placed to continue to benefit from strong New Zealand economic fundamentals,” he said.

“Investors continue to be attracted to the stability of the domestic property market, which is supported by a range of government and private capital initiatives along with strong population growth.”

Last week, AMP Capital announced its unlisted property funds had received over $1 billion in capital flows throughout 2016.

The deal is subject to approval from the New Zealand Overseas Investment Office.

Read more:

OpenMarkets slapped with licence conditions

Banks under pressure on fossil fuel lending

Virgin Money outsources super to Mercer

Perpetual names next board chair

Fed meeting won't be ‘lacklustre’: QIC



Canadian Pension Plan invests in AMP Capital fund
investordaily image
ID logo
promoted stories


Alexandra Holcomb

Westpac replaces retiring chief risk officer

Jessica Yun

Rohit Mendiratta

KPMG recruits AusSuper manager

Staff Reporter

Justin Nunan

Legg Mason appoints sales director

Staff Reporter


Russel Chesler

How to tell if an ETF stacks up

Russel Chesler

Tawhid Ali

Why investors should think like business owners

Tawhid Ali

Marton Huebler

Testing ‘buying the dips’ for EM debt

Marton Huebler