Canada Pension Plan Investment Board is exploring the sale of up to $1.5 billion in Asia-focused private equity fund stakes to trim some of its exposure to the asset class in the region, according to a Bloomberg report.
The country’s largest pension fund started seeking advisers earlier this year to help shed some of its mid-2010s vintages, the report said, citing anonymous sources.
The stakes include positions in strategies managed by Hillhouse Investment, Bain Capital and PAG, it added.
The process is ongoing, and the plans may change, the report noted. CPP Investments’ earliest commitments to these managers date from 2014 to 2016, when the pension fund invested roughly $1 billion in Asia strategies run by Hillhouse, Bain, and PAG, according to CPPIB’s website.
