EUROPE/CANADA - The Canada Pension Plan Investment Board (CPPIB) is increasing its focus on investment opportunities in Europe and the UK with the opening of an office in London.
David Denison, president and chief executive officer, CPIBB, said having investment professionals in London would enable it to strengthen relationships with existing partners and identify new investment opportunities, as well as better monitor existing investments.
He said: "This new office reflects our strategy to diversify the portfolio globally, underscoring our continuing belief that there are compelling investment opportunities in the UK and Europe that align with our long term investment horizon."
The CPP Investment Board has C$12.1bn invested in public companies in the UK and Europe, along with C$15bn committed to private equity, infrastructure and real estate investments, of which C$8.4bn is currently invested.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.