CPP Investment Board's Private Equity Commitments Grow to $8.3 B.TORONTO -- Fifth graph, date should read December 31, 2004 (sted December 21, 2004) The corrected release reads: CPP cpp - C preprocessor. INVESTMENT BOARD'S PRIVATE EQUITY COMMITMENTS GROW TO $8.3 B The CPP Investment Board today announced commitments to two new private equity partners. - 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. $200 million to Apax Europe VI, LP, a fund advised by Apax Partners in Europe which has offices in London, Munich, Madrid, Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Milan, and Stockholm. The fund, with a target commitment of EUR$4 billion, is expected to be invested over the next six years and will provide diversified exposure to late-stage venture, growth capital and buyout transactions across Europe and Israel. - US$100 million to Lone Star Lone Star (or Lonestar) may refer to:
Debt that does not identify specific assets that the debtholder is entitled to in case of default. instruments, real estate related assets and select corporate opportunities. These newest commitments, at the equivalent of $450 million, bring the CPP Investment Board's private equity commitments to a total of $8.3 billion. The CPP Investment Board has committed to 57 limited partnerships managed by 43 private equity firms. 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 December 31, 2004, was $77.2 billion. Amounts are in Canadian dollars unless otherwise specified. CPP Investment Board The CPP Investment Board invests in capital markets the funds not needed by the Canada Pension Plan to pay current pensions. Cash flows are currently invested in equities, real estate and infrastructure to balance the cash and bonds 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 16-million Canadians. With a mandate from the federal and provincial governments, the CPP Investment Board is accountable to Parliament and to the federal finance and provincial finance ministers who serve as the stewards of the CPP. Based in Toronto, CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length arm's length adj. the description of an agreement made by two parties freely and independently of each other, and without some special relationship, such as being a relative, having another deal on the side or one party having complete control of the other. from governments. Its fiscal year is from April 1 to March 31. For more information about the CPP Investment Board, visit www.cppib.ca. The fiscal 2005 annual results will be released at 9 a.m. on Thursday May 19, 2005. |
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