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Canadian Pension Plan Investment Board
Canadian Pension Plan Investment Board

CPPIB veers with Brazilian deal

The Canada Pension Plan Investment Board’s decision to buy 27.6 per cent of a publicly traded Brazilian shopping mall company is unusual for CPPIB, which normally invests directly in properties themselves.

The pension plan has generally stuck to developing or buying real estate (in partnership with joint venture partners) rather than investing in real estate companies, because it has the heft and expertise to do so, and investing in real estate companies is basically equivalent to adding a middleman.