CPP Investment Board Commits $50 Million To Canadian Venture Capital Fund.TORONTO -- The CPP cpp - C preprocessor. Investment Board today announced a $50 million commitment to EdgeStone Venture Fund II. This Canadian venture capital fund, with a target of $150 million, will seek investment opportunities in early-stage software companies in enterprise solutions, transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. and networking. With this latest commitment, the total amount committed to Canadian private equity funds is $1.5 billion, which includes $550 million to Canadian venture capital. "We continue to seek investment opportunities in Canadian venture capital as part of our portfolio diversification Portfolio diversification Investing in different asset classes and in securities of many issuers in an attempt to reduce overall investment risk and to avoid damaging a portfolio's performance by the poor performance of a single security, industry, (or country). strategy. We believe such investments will generate superior long-term returns," 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. The commitment to EdgeStone Venture Fund II brings the CPP Investment Board's private equity commitments to $7.1 billion committed to 51 limited partnerships managed by 41 private equity firms. The CPP Investment Board committed $50 million in 2001 to the predecessor fund, EdgeStone Venture Fund I. 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 September 30, 2004, was $75.2 billion. CPP Investment Board The CPP Investment Board is a Crown corporation created by an Act of Parliament in December 1997. It invests in capital markets the funds not needed by the Canada Pension Plan to pay current pensions. Cash flows are currently invested in equities and real estate 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 Canadians. Based in Toronto, the 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. Amounts are in Canadian dollars. |
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