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4 Min Read (Reuters) - The head of Canada Pension Plan Investment Board (CPPIB), Mark Machin, has resigned after his trip to the United Arab Emirates for vaccination against COVID-19 flouted Canadian government’s travel advice and drew criticism. FILE PHOTO: Mark Machin, President and CEO, Canada Pension Plan Investment Board, speaks at the 2019 Milken Institute Global Conference in Beverly Hills, California, U.S., April 29, 2019. REUTERS/Lucy Nicholson CPPIB on Friday named John Graham, currently senior managing director and global head of credit investments, as the new chief executive officer of the country’s largest pension fund. Machin, 54, becomes the second senior Canadian corporate executive to resign after attempting to jump vaccine queue, underscoring the frustration among some about the country’s slow vaccine roll out. ....
The Globe and Mail Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer Todd Korol/The Globe and Mail Benevity Inc., the darling of Calgary’s expanding technology sector, has added global star power to its investor group, including rock star Bono and former U.S. vice-president Al Gore, one of the world’s most outspoken critics of Alberta’s oil sands. The celebrities are linked to two of the world’s leading social impact funds – private-equity giant TPG’s The Rise Fund, which Bono co-founded with Canadian Jeff Skoll, and Generation Investment Management, which is chaired by Mr. Gore. The two led a syndicate of institutions that includes Canadian pension-fund managers Canada Pension Plan Investment Board, Alberta Investment Management Corp. and Vestcor ....
Benevity receives investment from leading impact and sustainability funds as part of Hg deal Calgary-based corporate social responsibility platform Benevity has received new investments from The Rise Fund and Generation Investment Management (Generation), as part of Hg’s transaction to acquire a controlling stake in the company. A spokesperson for Benevity confirmed to BetaKit the deal closed Febuary 1, with Hg bringing on the two impact and sustainability funds as “new strategic minority investors.” As part of the transaction, Hg has also brought in other new co-investors, including Canadian pension funds CPPIB, AIMCo, and Vestcor. The terms of the deal were not disclosed, however, the spokesperson confirmed Hg continues to hold its majority stake in Benevity and that the new investors do not affect any other investors’ stakes. ....
Securing new biz among CPPIB’s pre-conditions for SB Energy deal The latest valuation of SB Energy is less than the one expected by the sector given SoftBank had invested more than $800 million in the business in the past five yearsPremium 2 min read Share Via Read Full Story Canada Pension Plan Investment Board (CPPIB) has placed several pre-conditions to acquire Japan’s SoftBank Group Corp.’s controlling stake in SB Energy Holdings for an estimated $520 million, said two people aware of the development. These pre-conditions, also referred to as condition precedents (CPs), include meeting certain project commissioning deadlines, securing new businesses, achieving land possession from the Andhra Pradesh government and reimbursement of safeguard duty for a project in Rajasthan, the people said, requesting anonymity. ....
The Canada Pension Plan Investment Board (CPPIB) said on Thursday it ended the third quarter with net assets of C$475.7 billion ($375.63 billion), compared with C$456.7 billion at the end of the previous quarter. ....