The Financial Suite

Currency Gods aren’t shining on CPPIB

As promised, here’s the lowdown on how our external private equity investments are doing at the CPP Investment Board (see prior post “CPPIB U.S.A. general partner Q1 2010 performance numbers” Aug 19-10).

The overview (December quarter in brackets, in current currency exchange rates):

Paid in Capital: $16.333 billion ($16.649B)
Reported Value: $11.498 billion ($11.419B)
Distributions Received: $7.410 billion ($7.353B)
Reported Value plus Distributions: $18.905 billion ($18.772B)
Capital Calls still to fund: $12.776 billion ($13.042B)
Total Committed: $29.108 billion ($29.691B)

That looks to be a 16% increase in the net asset value of CPPIB’s PE investments over the life of the program. But there’s more to it than that.

CPPIB’s exposure to the private equity world is dropping, and that has all to do with the appreciation of the Canadian dollar. Here’s the

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Tags: Cppib