{"id":17489,"date":"2019-11-11T15:00:20","date_gmt":"2019-11-11T20:00:20","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/caisse-boosts-stake-in-indian-solar-producer-cppib-in-brazilian-real-estate-joint-venture-138786"},"modified":"2019-11-11T15:00:20","modified_gmt":"2019-11-11T20:00:20","slug":"caisse-boosts-stake-in-indian-solar-producer-cppib-in-brazilian-real-estate-joint-venture","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/11\/11\/caisse-boosts-stake-in-indian-solar-producer-cppib-in-brazilian-real-estate-joint-venture\/","title":{"rendered":"Caisse boosts stake in Indian solar producer, CPPIB in Brazilian real estate joint venture"},"content":{"rendered":"\n
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Staff<\/span> | November 11, 2019<\/p>\n

The Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec is investing a further US$75 million in Azure Power Global Ltd., an independent solar power developer in India.<\/p>\n

Once the deal is approved by Azure shareholders, the investment will raise the Caisse\u2019s stake in the company, from 41.4 per cent to 49.4 per cent. In October 2018<\/a>, the firm made a US$100-million contribution to the company\u2019s capital raising round, which brought its stake up to 40 per cent. At the time, the Caisse had invested a total of US$240 million in Azure.<\/p>\n

Read: Caisse ups stake in Indian solar company<\/a><\/strong><\/p>\n

The Azure deal is part of the Caisse\u2019s strategy to increase its carbon-neutral assets under management to $32 billion by 2020, noted a press release.<\/p>\n

In other investment news, the Canada Pension Plan Investment Board is teaming up with Brazilian residential property developer Cyrela Brazil Realty in a joint venture to develop a portfolio of residential real estate in S\u00e3o Paulo.<\/p>\n

The joint venture is targeting a $358-million investment between the two entities, with the CPPIB taking on an 80 per cent stake and Cyrela taking the remaining 20 per cent.<\/p>\n

Read: CPPIB sustainability report shows increased investments in renewable energy<\/a><\/strong><\/p>\n

The venture plans to target middle- to high-income segments of the multi-family market. It has identified four development projects to date, with three secured, accounting for 56 per cent of the venture\u2019s target equity allocation.<\/p>\n

In a press release, the CPPIB said it expects a number of factors to help grow the business in the coming years, including structurally lower interest rates, favourable demographics, new customer behaviours, people\u2019s desire to live closer to where they work and increasing housing prices in major cities.<\/p>\n

\u201cCPPIB expects the multi-family sector to particularly benefit from an improvement in S\u00e3o Paulo\u2019s local business activity and consumer confidence levels, supporting long-term demand for modern, high quality residential space,\u201d said Hilary Spann, the CPPIB\u2019s managing director and head of Americas, real estate investments.<\/p>\n

Read: Caisse, Ontario Teachers\u2019 partner with insurance firm, CPPIB sells stake in parking company<\/a><\/strong><\/p>\n

Meanwhile, the Ontario Teachers\u2019 Pension Plan is becoming a minority investor in Orgain Inc. through its limited partnership with food sector-focused private equity firm Butterfly. Ontario Teachers\u2019 will also be making a direct investment in Orgain Inc.<\/p>\n

The California-based company produces organic and clean nutrition products including protein powders, shakes and bars. The investment will allow the company to expand its consumer awareness, product innovation and global distribution, noted a press release.<\/p>\n

Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Staff | November 11, 2019 The Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec is investing a further US$75 million in Azure Power Global Ltd., an independent solar power developer in India. Once the deal is approved by Azure...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17489"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=17489"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17489\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=17489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=17489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=17489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}