Third-Quarter Highlights:
10-year annualized net return of 10.8%
TORONTO, Feb. 11, 2021 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) ended its third quarter of fiscal 2021 on December 31, 2020, with net assets of $475.7 billion, compared to $456.7 billion at the end of the previous quarter.
The $19.0 billion increase in net assets for the quarter consisted of $23.0 billion in net income after all CPP Investments costs less $4.0 billion in net Canada Pension Plan (CPP) outflows. CPP Investments routinely receives more CPP contributions than required to pay benefits during the first part of the calendar year, partially offset by benefit payments exceeding contributions in the final months of the year.
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TORONTO, Dec. 16, 2020 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) and its partners AustralianSuper and UniSuper, will acquire 50% of Transurban Chesapeake, a toll-road business comprising the 495, 95 and 395 Express Lanes located in the Greater Washington Area in the United States. CPP Investments will hold a 15% interest in Transurban Chesapeake with an initial investment of US$624 million, plus a potential earn-out payment to Transurban over the next five years of up to US$21 million. Transurban will retain a 50% stake in the business.
The Express Lanes are a connected network of dynamically tolled lanes on Interstate Highways 495, 95 and 395, key arterial roads in the Greater Washington Area. The 495 Express Lanes (22 kilometres) opened in 2012 and operate on a portion of the Capital Beltway. The 95 Express Lanes (50 kilometres) opened in 2014 and are reversible lanes on Interstate 95 in Northern Virginia. The 395 Express Lanes (13 kilometres) opened
Australian share market ends on a high after Treasurer says recovery will be faster than forecast
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ThuThursday 17
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ThuThursday 17
Treasurer Josh Frydenberg says Australia s economy will make a faster recovery than previously forecast.
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Australian shares jumped to their highest close in almost 10 months, as projection of a faster economic recovery next year was announced by the Treasurer and unemployment figures were better than expected.
Key points:
The Australian dollar has risen again after yesterday s 2.5-month high to 75.7 US cents.
Bitcoin has hit an all-time peak of $27,477 and has gained more than 170 per cent this year
By Reuters Staff
1 Min Read
(Reuters) -Australian toll-road operator Transurban Group said on Thursday it would sell half of its stake in Transurban Chesapeake assets, including three express lanes and other projects in the Greater Washington Area, to three pension funds for $2.8 billion ($2.12 billion).
Under the deal, AustralianSuper will own 25% of the assets, while Canada Pension Plan Investment Board (CPP Investments) and UniSuper will hold stakes of 15% and 10%, respectively.
The deal also includes a potential earn-out of up to A$93 million in the years between 2024 and 2026.
“This transaction realises significant value for security holders, while enabling accelerated growth in North America and Australia, where we see a number of opportunities starting to materialise,” Transurban Chief Executive Officer Scott Charlton said in a statement.
CPPIB to acquire 50 pct stake in Transurban Chesapeake pehub.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pehub.com Daily Mail and Mail on Sunday newspapers.