MARK BLINCH/Reuters
Canada Pension Plan Investment Board has committed $218-million for a round of bonds that are secured by Romanian real estate.
The properties are owned by Globalworth Real Estate Investments Ltd. and located in the Romanian capital of Bucharest.
CPPIB is making the investment in partnership with Cairn Capital through a new European commercial mortgage fund.
The Toronto-based fund manager's portion of the bond purchase is €150-million while Cairn's share is €30-million, for a total of €180-million.
CPP Investment Board manages an investment portfolio worth about $278.9-billion on behalf of the Canada Pension Plan.