CPP Investments' assets reach $675.1 bn in Q2 FY25 amid market volatility

The Canada Pension Plan Investment Board (CPP Investments) reported a $28.3 billion increase in net assets globally for the quarter ending September 30. Net assets climbed to $675.1 billion from $646.8 billion in the previous quarter, driven by $23.1 billion in net income and $5.2 billion in net transfers from the Canada Pension Plan (CPP), according to a company statement.

 

In India, the Canadian firm said it sold its 6 per cent stake in Delhivery, India’s largest third-party logistics service provider, generating net proceeds of C$298 million (US$211 million), thus concluding an investment initiated in 2019.

 

CPP Investments also sold its stake in One Paramount 1, a Grade-A office development in Chennai, for $52 million. The investment was part of a joint venture with RMZ Corp, aimed at developing commercial real estate assets.

 

 

Additionally, CPP Investments invested $100 million for a 5 per cent stake in Perficient, a digital strategy and engineering services provider based in the US. According to the company statement, 28 per cent of Perficient’s delivery staff is based in India.

 

“Despite heightened market volatility during the quarter, our diversified investment portfolio delivered stable returns, with positive performance across asset classes and geographies,” said John Graham, president and CEO of CPP Investments. “The portfolio is performing as designed. Our focus remains on creating long-term value through market cycles in the best interests of CPP contributors and beneficiaries.”

 

CPP Investments also emphasised its sustainability-driven initiatives, with recent commitments in renewable energy and urban infrastructure globally. The second quarter's performance was supported by gains in infrastructure and credit investments, with a tempered impact from currency fluctuations due to the Canadian dollar's appreciation against the US dollar.