CPP Investment Board

Liberty Media Announces Agreement to Acquire Commercial Rightsholder of MotoGP™

Retrieved on: 
Monday, April 1, 2024
Entertainment, Sports, Other Entertainment, General Entertainment, Other Sports, Motor Sports, General Sports, Failure, CPP Investment Board, Dorna Sports, Goldman Sachs, Webcast, Internet, Acquisition, Form 10-K, Liberty Media, Grand Prix motorcycle racing, Risk, Formula One Group, Latham & Watkins, Cryptocurrency

Liberty Media Corporation (“Liberty Media”) (Nasdaq: FWONA, FWONK) announced today that it has entered into an agreement to acquire Dorna Sports, S.L.

Key Points: 
  • Liberty Media Corporation (“Liberty Media”) (Nasdaq: FWONA, FWONK) announced today that it has entered into an agreement to acquire Dorna Sports, S.L.
  • (“Dorna”), the exclusive commercial rights holder to the MotoGP™ World Championship, from Bridgepoint and Canada Pension Plan Investment Board (“CPP Investments”).
  • Liberty Media retains an option at its sole discretion to deliver additional cash in lieu of FWONK common stock.
  • Presentation materials to be used during the investor call will be posted to the Liberty Media website in advance.

Redwood Trust and CPP Investments Announce $750 Million Strategic Capital Partnership

Retrieved on: 
Tuesday, March 19, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Banking, CPP Investment Board, Joint venture, Growth, Partnership, Housing, Investment, Multimedia

Redwood Trust, Inc. (NYSE: RWT; “Redwood” or the “Company”), a leader in expanding access to housing for homebuyers and renters, and Canada Pension Plan Investment Board (“CPP Investments”), through subsidiaries of CPPIB Credit Investments Inc., today announced a $750 million strategic capital partnership.

Key Points: 
  • Redwood Trust, Inc. (NYSE: RWT; “Redwood” or the “Company”), a leader in expanding access to housing for homebuyers and renters, and Canada Pension Plan Investment Board (“CPP Investments”), through subsidiaries of CPPIB Credit Investments Inc., today announced a $750 million strategic capital partnership.
  • View the full release here: https://www.businesswire.com/news/home/20240319990631/en/
    The partnership consists of a newly formed $500 million Asset Joint Venture and a $250 million corporate secured financing facility that CPP Investments is providing to Redwood.
  • Together, CPP Investments and Redwood will contribute up to $500 million of equity to the Joint Venture, with an anticipated split of 80% from CPP Investments and 20% from Redwood.
  • “We are thrilled to announce this strategic partnership with CPP Investments, whose experienced team sees the power of Redwood’s franchise and the financial assets we procure,” said Christopher Abate, Chief Executive Officer of Redwood.

Labaton Keller Sucharow LLP and Entwistle & Cappucci LLP Announce Notice of Pendency of Stockholder Class Actions and Proposed Settlement for All Record and Beneficial Owners of Pattern Energy Group Inc. Common Stock as of March 16, 2020

Retrieved on: 
Monday, March 18, 2024
Agreement, Justice Center, Goldman Sachs, Compromise, Mergers and acquisitions, CPP Investment Board, Federal court, Prejudice, Riverstone Holdings, Class, Episcopal conference, Eligibility, Court, Effective date, Federal, District court, Defendant, CLASS, Settlement, Net settlement, LP, Plaintiff, Notice, Judgement, Post office box, PEGI, Hearing

If you have not yet received the Notice, you may obtain a copy of the Notice by contacting the Settlement Administrator at Pattern Energy Group Inc.

Key Points: 
  • If you have not yet received the Notice, you may obtain a copy of the Notice by contacting the Settlement Administrator at Pattern Energy Group Inc.
  • Eligible Class Members do not have to submit a claim form to receive a payment from the Settlement.
  • Please do not contact the Court of Chancery or the Office of the Register in Chancery regarding this notice.
  • All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to the Settlement Administrator or Plaintiffs' Counsel.

CRC Play To Buy Aera Is Way To Avoid Plugging Idle Wells, Extending Life Of Depleted Oil Fields Via Unproven Technology, Say Consumer Watchdog and FrackTracker Alliance

Retrieved on: 
Wednesday, February 7, 2024
Ferrar, Multimedia, CRC, ExxonMobil, Research, Shell, Carbon, Atmosphere, Aera Energy, Conservation, Groundwater, The FracTracker Alliance, Consumer Watchdog, Sale, Titanic, Carrillo, CPP Investment Board, Natural gas

The purchase of Aera brings CRC's count of idle wells producing no oil from about 6,700 up to nearly 16,000 wells.

Key Points: 
  • The purchase of Aera brings CRC's count of idle wells producing no oil from about 6,700 up to nearly 16,000 wells.
  • The two companies avoid the costs of plugging them because the state charges very little in fines.
  • The real play appears to be that CRC wants Aera's oil fields as a potential site to store carbon from unproven carbon capture programs.
  • The state never required the two oil giants to put up the money to cover full plugging and remediation of Aera's wells.

California Resources Corporation to Combine with Aera Energy

Retrieved on: 
Wednesday, February 7, 2024
Other Energy, Environment, Oil, Gas, Alternative Energy, Green Technology, Energy, Climate Change, Carbon, Partnership, California Resources Corporation, CRC, CPP, Environmental issues, Carbon dioxide, G&A, Direct air capture, Philosophy, CUPS, Aera Energy, Investment, CCS, CO2, South Belridge Oil Field, Sale, MMT, EPA, DAC, CPP Investment Board, CTV, Renewable energy

California Resources Corporation (NYSE: CRC) today announced the signing of a definitive merger agreement to combine with Aera Energy, LLC (Aera) in an all-stock transaction.

Key Points: 
  • California Resources Corporation (NYSE: CRC) today announced the signing of a definitive merger agreement to combine with Aera Energy, LLC (Aera) in an all-stock transaction.
  • The transaction values Aera at approximately $2.1 billion, inclusive of Aera’s net debt and certain other obligations1, and is expected to be immediately accretive.
  • On behalf of CRC, we look forward to working with our new colleagues at Aera.
  • The combined company will own interests in five of the largest oil fields in California with opportunities to increase oil recovery.

Walker & Dunlop Funds $380M for Student Housing Credit Facility

Retrieved on: 
Wednesday, February 7, 2024
Professional Services, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Public Relations, Investor Relations, Other Professional Services, Urban Planning, Communications, Building Systems, REIT, Finance, Consulting, Partnership, Multimedia, University, GAV, CPPIB, Scion, Gross asset value, Housing, Capital, SSC, Walker & Dunlop, Investment, Fannie Mae, DUS, Bed, CPP Investment Board, Bank

The Scion Group is the largest owner/operator of off-campus student housing communities globally, with over 80,000 beds in its portfolio.

Key Points: 
  • The Scion Group is the largest owner/operator of off-campus student housing communities globally, with over 80,000 beds in its portfolio.
  • This latest financing marks a significant milestone as Walker & Dunlop has now originated over $3 billion in debt for Scion.
  • The new facility allowed the borrower to eliminate all floating rate exposure in their original credit facility while refinancing several maturing one-off loans.
  • Walker & Dunlop is a leader in student housing financing and sales.

Inari Accelerates Proven SEEDesign™ Platform for Nature-Positive Agriculture with $103 Million Fundraise

Retrieved on: 
Tuesday, January 30, 2024
Flagship Pioneering, Investment, CPP, Rokos Capital Management, CPP Investment Board, Agriculture, Seed, Cryptocurrency

CAMBRIDGE, Mass., Jan. 30, 2024 /PRNewswire/ -- Inari today announced the completion of a $103 million fundraise, bringing its cumulative equity raised to more than $575 million. The successful investment round signals confidence in Inari's ability to develop and commercialize higher-yielding seeds that require fewer resources, using AI-powered predictive design and multiplex gene editing.

Key Points: 
  • CAMBRIDGE, Mass., Jan. 30, 2024 /PRNewswire/ -- Inari today announced the completion of a $103 million fundraise, bringing its cumulative equity raised to more than $575 million.
  • The company also welcomed several new investors including RCM Private Markets fund, advised by Rokos Capital Management (US) LP.
  • Hanwha Impact highlighted Inari's strong progress since their initial 2021 investment as a key reason for their increased support in this fundraise.
  • Added Stephen Berenson, Flagship Pioneering Managing Partner: "This successful fundraise reflects continued confidence in the company's ability to deliver on its nature-positive vision.

BridgeBio Pharma Secures up to $1.25 Billion of Capital from Blue Owl and CPP Investments to Accelerate the Development and Launch of Genetic Medicines

Retrieved on: 
Thursday, January 18, 2024
DSM-IV codes, Patient, CPP, Investment, Cooley LLP, CFA, PALO, Latham & Watkins, Morgan Stanley, Blue Owl Capital, Cancer, FDA, CPP Investment Board, Doctor of Philosophy, CPPIB, Pharmaceutical industry

PALO ALTO, Calif., Jan. 18, 2024 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (BridgeBio or the Company), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, today announced strategic financing from Blue Owl Capital (Blue Owl) and Canada Pension Plan Investment Board (CPP Investments), through a wholly owned subsidiary (CPPIB Credit) of CPPIB Credit Investments Inc., bringing in capital of up to $1.25 billion.

Key Points: 
  • “Acoramidis has demonstrated an impressive and differentiated clinical profile, and we believe it will be an important advancement in the treatment of ATTR-CM.
  • Further, BridgeBio’s promising pipeline of late-stage targeted rare disease therapies address critical unmet needs in these underserved populations.
  • “Investments in leading therapies also help to diversify our capital allocations to income streams that are typically uncorrelated to the broader capital markets.”
    Morgan Stanley & Co. LLC acted as sole structuring agent on the transactions.
  • Latham & Watkins served as legal advisor to BridgeBio and Cooley LLP advised Blue Owl.

Altus Power Announces Financing from Goldman Sachs and CPP Investments

Retrieved on: 
Tuesday, January 2, 2024
Utilities, Environment, Sustainability, Alternative Energy, Commercial Building & Real Estate, Energy, Construction & Property, Investment, CPP Investment Board, Entrepreneurship, Goldman Sachs, CFO, Security (finance)

Altus Power, Inc. (NYSE: AMPS), the leading commercial-scale provider of clean electric power, today announced the closing of secured credit facility having a principal loan amount of $100 million by an affiliate of Goldman Sachs Asset Management (“Goldman Sachs”) and CPPIB Credit Investments III Inc., a subsidiary of Canada Pension Plan Investment Board (“CPP Investments”).

Key Points: 
  • Altus Power, Inc. (NYSE: AMPS), the leading commercial-scale provider of clean electric power, today announced the closing of secured credit facility having a principal loan amount of $100 million by an affiliate of Goldman Sachs Asset Management (“Goldman Sachs”) and CPPIB Credit Investments III Inc., a subsidiary of Canada Pension Plan Investment Board (“CPP Investments”).
  • Altus Power plans to use proceeds from the facility to support its ongoing expansion.
  • The facility carries an interest rate of 8.50% and a term of six years and is prepayable without penalty after three years.
  • “We’re pleased to welcome Goldman Sachs and CPP Investments as partners in Altus Power, bringing capital that will fund our expected growth plans in 2024,” remarked Dustin Weber, CFO of Altus Power.

Pattern Energy Closes $11 Billion Financing of Largest Clean Energy Infrastructure Project in U.S. History

Retrieved on: 
Wednesday, December 27, 2023
Commercial Building & Real Estate, Utilities, Construction & Property, Sustainability, Environment, Alternative Energy, Energy, Building Systems, Slate, Quanta, EPC, Royal Bank of Canada, Intesa Sanpaolo, Banco Santander, Investment, Scotiabank, CPP Investment Board, Santander Bank, Multimedia, CoBank, Electricity, General Electric, Royal Bank, Snell, Investment banking, Pattern Energy, KfW IPEX-Bank, Letter, Lincoln, Carbon, History, CPP, BNP Paribas, S.A, Principal, Riverstone Holdings, Société Générale, Bank of America, HVDC, Wells Fargo, KV, Sumitomo Mitsui Banking Corporation, Banco Bilbao Vizcaya Argentaria, Transmission, Bank, Export Development Canada, KFW, MUFG Bank, Sumitomo Mitsui Trust Holdings, ACB, National bank, National Bank of Canada, Desjardins Group, Security (finance)

Pattern Energy Group LP (Pattern Energy), a leader in renewable energy and transmission infrastructure, has closed an $11 billion non-recourse financing and begun full construction of SunZia Transmission and SunZia Wind, which together is the largest clean energy infrastructure project in U.S. history.

Key Points: 
  • Pattern Energy Group LP (Pattern Energy), a leader in renewable energy and transmission infrastructure, has closed an $11 billion non-recourse financing and begun full construction of SunZia Transmission and SunZia Wind, which together is the largest clean energy infrastructure project in U.S. history.
  • “Our hope is this successful financing of the largest clean energy infrastructure project in American history serves as an example for other ambitious renewable infrastructure initiatives that are needed to accelerate our transition to a carbon free future,” said Hunter Armistead, CEO of Pattern Energy.
  • “We are very grateful to all of our financial partners who are backing SunZia as part of this record-setting project financing.
  • SunZia Transmission and Pattern Energy have partnered with the New Mexico Renewable Energy Transmission Authority (RETA) on the development of the transmission project in New Mexico.