Positive performance gains on investments in energy infrastructure offset broad declines in global public and private equity markets and fixed-income markets for the three months to Sept. 30.
CPP Investments, which manages Canada's national pension fund and invests on behalf of 21 million Canadians, said its net assets rose 1% to C$529 billion ($395 billion) at the end of its second fiscal quarter of 2023, helped by gains in U.S. dollar private equity, real estate and credit investments.
"Our portfolio remains resilient despite inflationary pressures, increases in central bank rates and the continued impact of the war in Ukraine, which resulted in the continued decline in global financial markets during the quarter," John Graham, president and CEO said in the statement.
CPP has delivered five-year annualized net returns of 8.5% and 10-year annualized returns of 10.1%, according to the release.
Over the second quarter, CPP allocated $300 million to private equity firm Clayton, Dubilier & Rice and another $400 million to CVC Capital Partners, among other investments.
($1 = 1.3376 Canadian dollars)
(Reporting by Maiya Keidan; Editing by Lisa Shumaker)
By Maiya Keidan
