NEW YORK--(BUSINESS WIRE)--Capital Constellation (“Constellation”), the joint venture among leading institutional asset owners in Europe, North America and the Gulf, announced today that Canada Pension Plan Investment Board (“CPP Investments”), has joined its consortium of asset owners.
Managed by private equity and alternative investment manager, Wafra Inc. (“Wafra”), Constellation unites the expertise and capital base of premier institutional investors around the world with promising growth alternative asset managers. CPP Investments joins Alaska Permanent Fund Corporation, the Public Institution for Social Security of Kuwait (PIFSS), Railpen, the Third Swedish National Pension Fund (AP3) and New York State Common Retirement Fund, among other asset owners, as a member of Constellation’s Strategic Committee. Constellation’s asset owners collectively manage nearly $2 trillion in assets, with the Strategic Committee tasked with maximizing network benefits and peer engagement amongst Constellation’s partners.
CPP Investments was established in 1997 to invest the assets of the CPP Fund and help build a retirement foundation for 21 million Canada Pension Plan contributors and beneficiaries. With over C$500 billion in assets as of June 30, 2022, CPP Investments was ranked Number One in the Global Investor 1001, the listing of the largest private equity investors in the world, The initial capital commitment to Constellation is US$75 million.
“Constellation presents an exciting opportunity to access investments for CPP Investments and a channel through which to collaborate with a world-class group of institutional investors. We look forward to sharing our experience of the rapidly evolving secondary market and also serving as a capital solutions and liquidity provider to the platform,” said Dushy Sivanithy, Managing Director, Private Equity Secondaries, CPP Investments.
“CPP Investments joining Constellation is directly aligned with Constellation’s investment thesis and the work we’ve done over the last five years. In CPP Investments, Constellation and its partners benefit from a likeminded thought leader with the ability to act as a strategic partner and liquidity resource,” said Daniel Adamson, President of Constellation and a Senior Managing Director of Wafra.
Since its founding in 2018, Constellation and its affiliated entities have grown into a multi-billion-dollar investment platform, investing in alternative asset managers across North America and Europe and a range of asset classes and strategies spanning technology, renewable energy, healthcare, communications, real estate and private credit.
About Capital Constellation
Capital Constellation is an innovative venture among global asset owners, designed as a collaborative asset owner platform with significant capital and expertise from some of the world’s premier institutional investors. Capital Constellation pursues a private equity strategy that provides growth capital to private alternative asset management firms. For more information, please visit: www.capitalconstellation.com.
About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPP Investments) is a professional investment management organization that manages the Fund in the best interest of the 21 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At June 30, 2022, the Fund totaled C$523 billion. For more information, please visit www.cppinvestments.com
About Wafra Inc.
Wafra is a global alternative asset manager with approximately $33 billion of assets under management. Funds advised by Wafra have formed 25 strategic partnerships with both growth and established alternative asset managers. By providing flexible and accretive capital solutions and focusing on the long term, Wafra aligns with and invests in high-quality investment management teams. Headquartered in New York, Wafra and its affiliates have additional offices in London, Kuwait and Bermuda. For more information, please visit www.wafra.com.
1 The Global Investor 100 is Private Equity International’s list of the world’s biggest private equity investors, based on the market value of their private equity investment portfolio. Published July 1, 2022