CPPIB partners with Chinese residential developer in US$250 million agreement
TORONTO - The Canada Pension Plan Investment Board is partnering with residential developer China Vanke Co. Ltd. to invest US$250 million in the Chinese residential market.
The agreement, which pairs one of Canada's biggest pension funds with the largest residential developer in China, will be dedicated to new residential development projects in large cities across the country.
Vanke will handle sourcing the projects, which will begin with one in China's Shandong province, CPPIB said Tuesday.
Vanke had revenues of more than US$22 billion in 2013, and has developments in 65 cities across China.
CPPIB has C$23.4 billion of investments in Asia, which represents 11.6 per cent of its total portfolio.
Note to readers: This is a corrected story. An earlier version incorrectly referred to CPPIB's total investments in China.
Read more Business News
- Rifle stolen from truckVernon / N. Okanagan - 4:47 pm
- RCMP truck goes off cliffVernon / N. Okanagan - 4:38 pm
- Stalking cougars killedVernon / N. Okanagan - 1:07 pm
- Cougars in your backyard?Poll - 5:00 pm
|QHR Technologies Inc||1.23||+0.01|
|Anavex Life Sciences||0.185||-0.01|
|Copper Mountain Mining||2.52||+0.11|
|Sunrise Resources Ltd||0.065||+0.045|
|Mission Ready Services||0.34||-0.02|
Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...
Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...
Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...