CPP Investment Board: Newest Commitments Boost Private Equity Total To $7 Billion.TORONTO -- The CPP cpp - C preprocessor. Investment Board today announced commitments to one existing and three new private equity partners, totaling the equivalent of approximately $740 million. - US$300 million to the KKR KKR Korringa-Kohn-Rostoker (method) KKR Kohlberg, Kravis & Roberts & Co. KKR Kalkara (postal locality, Malta) KKR Kramers-Kronig Relations KKR Komarappa Gounder Ramalingam (hospital in India) Millennium Fund L.P, a fund managed by Kohlberg Kravis Roberts Kohlberg Kravis Roberts & Co (commonly referred to as KKR) is a New York City-based private equity firm that focuses primarily on late-stage leveraged buyouts. It was founded in 1976 by Jerome Kohlberg, Jr., and cousins Henry Kravis and George R. & Co. with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Menlo Park and London. The fund, with total commitments of US$5.75 billion is expected to be invested over the next four years and will focus on large scale leveraged buyout investments primarily in the United States, Western Europe and Canada. - EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 80 million to Partners Group Secondary, L.P. a fund managed by Partners Group, with offices in Zug, New York, Guernsey, London and Singapore. The EUR 500 million fund is expected to be invested over the next three years in secondary interests across a number of private equity partnerships. - US$90 million to VSS See Vcc. Communications Partners IV, LP, a fund managed by Veronis Suhler Stevenson, with offices in New York and London. The Fund, with a target of US$1.25 billion is expected to be invested over the next five years in mid-market media companies in the United States and Europe. - US$100 million to MidOcean Partners II, L.P. a fund managed by MidOcean Partners with offices in New York and London. The fund is expected to be invested over the next two years and will focus on late-stage middle market buyout investments in the United States and Europe. The CPP Investment Board previously committed US$273 million to MidOcean Partners, L.P. in February 2003. These newest commitments bring the CPP Investment Board's private equity commitments to $7 billion committed to 50 limited partnerships managed by 41 private equity firms. "We continue to selectively add new partners to our private equity portfolio and to build our relationships with existing partners," said John MacNaughton, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , CPP Investment Board. "Although it is still relatively early in the development of our private equity portfolio, we are pleased with its performance to date." The value of the Canada Pension Plan The Canada Pension Plan (CPP) is a contributory, earnings-related social insurance program. It forms one of the two major components of Canada's public retirement income system, the other component being Old Age Security (OAS). reserve fund as at June 30, 2004, was $73.2 billion. CPP Investment Board Created in December 1997, the CPP Investment Board is a crown corporation that invests funds not needed by the Canada Pension Plan to pay current pensions. Cash flows are invested in equities and real estate to balance the bond portfolio owned by the Canada Pension Plan. By increasing the long-term value of funds, the CPP Investment Board will help the Canada Pension Plan to keep its pension promise to Canadians. Located in Toronto, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. For more information on the CPP Investment Board, visit www.cppib.ca Amounts are in Canadian dollars unless specified otherwise. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion