The world’s largest pension fund should look to beat wage growth when setting investment goals and no longer needs to focus on domestic bonds given quickening inflation, a Japanese government advisory panel said.
Goldman Sachs Group Inc. and the Canada Pension Plan Investment Board are set to invest in holdings from a 2002 fund managed by J.W. Childs Associates LP in a deal valued at $1 billion, said three people with knowledge of the matter.
Neiman Marcus Group Ltd. is seeking to lower the rate on a $2.94 billion loan that helped finance the luxury retailer’s buyout by Ares Management LLC and the Canada Pension Plan Investment Board four months ago, according to a person with knowledge of the transaction.
Dexus Property Group and partner Canada Pension Plan Investment Board are set to complete their takeover of the property fund managed by Commonwealth Bank of Australia, together gaining ownership of A$3.2 billion ($2.9 billion) of office buildings managed by the trust.
Indiareit Fund Advisors Pvt., which manages $1 billion in real estate assets, is delaying its $250 million overseas fundraising plan by six months to focus on investing for new clients won earlier this month.
Caisse de Depot et Placement du Quebec, Canada’s second-largest pension-fund manager by assets, returned 13 percent last year as publicly traded stocks in the U.S. and elsewhere pushed assets under management above C$200 billion ($180.1 billion) for the first time.
Lend Lease Group, Australia’s biggest listed developer, said first-half profit fell amid challenging construction markets in Australia and the U.K. and after last year’s one-time boost from a Sydney redevelopment.
Activist investor Carl Icahn, who last month proposed that EBay Inc. spin off its PayPal unit and nominated two employees to the board, criticized the online marketplace for “lapses” in corporate governance and asked shareholders to vote in favor of the split.
Kevin Li, head of Canadian investment banking at Canadian Imperial Bank of Commerce, was promoted to lead its European business, according to Vlaad & Co., a Toronto-based financial-services recruiting firm.