{"id":18858,"date":"2020-07-02T15:00:03","date_gmt":"2020-07-02T19:00:03","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/psp-investing-in-italian-real-estate-cppib-in-french-higher-education-group-147678"},"modified":"2020-07-02T15:00:03","modified_gmt":"2020-07-02T19:00:03","slug":"psp-investing-in-italian-real-estate-cppib-in-french-higher-education-group","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/07\/02\/psp-investing-in-italian-real-estate-cppib-in-french-higher-education-group\/","title":{"rendered":"PSP investing in Italian real estate, CPPIB in French higher education group"},"content":{"rendered":"
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\"Copyright <\/div>\n<\/p><\/div>\n

Staff<\/span> | July 2, 2020 <\/p>\n

The Public Sector Pension Investment Board is establishing a long-term strategic partnership with property and infrastructure firm Lendlease Corp. to develop an urban regeneration project in Milan.<\/p>\n

The Milano Santa Giulia mixed-use project has the long-term potential for up to 2,500 homes, alongside commercial office, retail and entertainment properties. It has also set a zero-carbon target and will include parkland. Overall, the site has a gross development value of  \u20ac2.5 billion. The partnership will involve an initial investment of about \u20ac250 million to buy two office buildings at the southern tip of the site, with the intention to later carry out development over the northern part of the site, building residential, office and retail components. Lendlease will lead the planning, design and development of the project over the coming decade.<\/p>\n

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Read: CPPIB investing in U.K. residential real estate<\/a><\/strong><\/p>\n

\u201cWe believe Milano Santa Giulia presents an exciting opportunity to create a vibrant new neighbourhood for Milan, built around the principles of innovation and sustainability, and we look forward to working with our new partners Lendlease on this project,\u201d said Stephane Jalbert, managing director of real estate investments for Europe and Asia Pacific at PSP Investments, in a press release.<\/p>\n

In other investment news, the Canada Pension Plan Investment Board, along with a consortium of other investors, has completed its previously announced acquisition of Galileo Global Education, a French higher-education group.<\/p>\n

The consortium consists of the CPPIB Europe, a wholly-owned subsidiary of the CPPIB, as well as Montagu Private Equity, T\u00e9thys Investment Management and investment bank Bpifrance. The education group, which includes 42 schools throughout 13 countries, is seeking to expand through acquisitions.<\/p>\n

\u201cWe look forward to supporting Galileo as it evolves its unique global platform in the higher-education sector to continue to deliver high-quality, innovative and flexible courses to students around the world, adapting to challenges and leveraging the use of technology,\u201d said Alain Carrier<\/span>, senior managing director and head of international at the CPPIB, in a press release. \u201cCPP Investments is confident that Galileo \u2014 through its management and teaching staff \u2014 will build long-term value in the business for the benefit of CPP contributors and beneficiaries.\u201d<\/p>\n

Read: Caisse, CPPIB building on investment in engineering firm<\/a><\/strong><\/p>\n

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As well, a consortium of investors, including the Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec, private-equity firm TPG Capital and investment company Fosun International Ltd., is partnering with Investissement Qu\u00e9bec to submit a proposal to acquire substantially all of the assets of Cirque du Soleil Entertainment Group, which has filed for bankruptcy protection.<\/p>\n

The deal is pending approval from the commercial division of the Superior Court of Quebec, with the consortium looking to serve as the primary bidder in the company\u2019s court-supervised restructuring and related sale and investment solicitation process. As it stands, the proposed purchase agreement would give Cirque du Soleil a cash injection of US$300 <\/span>million. <\/p>\n

\u201cThe COVID-19 pandemic has presented meaningful, unforeseen challenges for Cirque\u2019s business and the live entertainment industry globally,\u201d said the consortium, in a press release. <\/em>\u201cTogether with management, we have worked diligently to preserve the long-term value of the business and believe our commitment today creates a strong foundation from which the company can start to rebuild and reposition the brand for the future.\u201d<\/p>\n

Read: Caisse adds to Cirque de Soleil investment, converts Bombardier shares to Alstom<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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

Staff | July 2, 2020 The Public Sector Pension Investment Board is establishing a long-term strategic partnership with property and infrastructure firm Lendlease Corp. to develop an urban regeneration project in Milan. The Milano Santa Giulia mixed-use project...<\/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\/18858"}],"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=18858"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/18858\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=18858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=18858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=18858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}