A $423 Billion Pension Giant Expands Its Growth-Equity Ambitions
- CPPIB sees private valuations dropping after stock market rout
- Unit head Leon Pedersen says global markets face ‘great reset’
Canada Pension Plan Investment Board, which managed C$539 billion ($423 billion) at the end of March, is building an arm that focuses on buying minority stakes in closely held firms as global markets face a “great reset,” the unit’s leader, Leon Pedersen, said in an interview.
Photographer: Cole Burston/BloombergOne of North America’s biggest institutional investors is pushing into the growth-equity business as it anticipates declines in private-company valuations will catch up with those of publicly traded stocks.
Canada Pension Plan Investment Board, which managed C$539 billion ($423 billion) at the end of March, is building an arm that focuses on buying minority stakes in closely held firms as global markets face a “great reset,” the unit’s leader, Leon Pedersen, said in an interview.