Canadian pension fund aims to focus on real estate in the Brazil
Saturday, June 6, 2009
Canada Pension Plan Investment Board (CPPIB) said it expects to boost its real estate and infrastructure exposure in fiscal 2010 and could be set to purchase property in Brazil as it looks to take advantage of opportunities caused by the global downturn.
The CPPIB, one of Canada's largest pension funds with $105.5 billion of assets said it is likely to reduce its Canadian equity exposure in favour of global stocks and it would trim Canadian equity exposure to 13 percent from 14.7 percent.
In a media briefing, Mark Wiseman, senior vice-president of private investments at CPPIB commented: "We see significant opportunities in infrastructure investment around the world. We are prepared to pursue large transactions".
Chief Executive David Denison recently stated that the fund is eyeing more investment choices abroad, particularly in real estate and infrastructure, as it takes advantage of buying opportunities spawned by the financial crisis. In fiscal 2010, it aims to focus on real estate in Brazil, the U.K. and Australia, among other markets, according to Reuter’s reports.
Graeme Eadie, senior vice president of real estate for the fund has stated that the diversity of Brazil and its investment opportunities are a factor behind its interest. He said that those behind pension plan can see chances for growth in Brazil real estate.
In related news, Luis Fernando Martinez, sales director of steelmaker CSN has said that the company is aiming to make the most of Brazil real estate sector boom. "The housing deficit here is still too big and the ability to lend is very good at the same time. The sooner you enter this market, the better the growth opportunities you will get,"he explained.
Social BookmarkingThe CPPIB, one of Canada's largest pension funds with $105.5 billion of assets said it is likely to reduce its Canadian equity exposure in favour of global stocks and it would trim Canadian equity exposure to 13 percent from 14.7 percent.
In a media briefing, Mark Wiseman, senior vice-president of private investments at CPPIB commented: "We see significant opportunities in infrastructure investment around the world. We are prepared to pursue large transactions".
Chief Executive David Denison recently stated that the fund is eyeing more investment choices abroad, particularly in real estate and infrastructure, as it takes advantage of buying opportunities spawned by the financial crisis. In fiscal 2010, it aims to focus on real estate in Brazil, the U.K. and Australia, among other markets, according to Reuter’s reports.
Graeme Eadie, senior vice president of real estate for the fund has stated that the diversity of Brazil and its investment opportunities are a factor behind its interest. He said that those behind pension plan can see chances for growth in Brazil real estate.
In related news, Luis Fernando Martinez, sales director of steelmaker CSN has said that the company is aiming to make the most of Brazil real estate sector boom. "The housing deficit here is still too big and the ability to lend is very good at the same time. The sooner you enter this market, the better the growth opportunities you will get,"he explained.
Labels: Infrastructure, Market-Trends
