CPP Investments sells portfolio of PE fund interests, net proceeds about $4 billion

Signage is seen in the reception of CPP Investments' Toronto offices. THE CANADIAN PRESS/Chris Young

TORONTO — The Canada Pension Plan Investment Board says it has sold a portfolio of 33 limited partnership fund interests to Blackstone Strategic Partners and private investment firm Ardian.

CPP Investments says net proceeds from the transaction totalled about $4 billion.

The portfolio included various investments made in funds over the course of about 20 years.

Tom Kapsimalis, managing director and CPP Investments’ head of secondaries, says the sale was part of the fund’s active portfolio management.

He says the deal provided an attractive opportunity to optimize the fund’s exposure and supports disciplined capital allocation across its portfolio.

CPP Investments invests the money not needed by the Canada Pension Plan to pay current benefits.

This report by The Canadian Press was first published May 20, 2026.