NEWS
05/31/2016 03:51 EDT | Updated 06/01/2017 01:12 EDT

CPP Investment Board buys into round of bonds secured by Romanian real estate

TORONTO — Canada Pension Plan Investment Board has committed $218 million for a round of bonds that are secured by Romanian real estate.

The properties are owned by Globalworth Real Estate Investments Ltd. and located in the Romanian capital of Bucharest. 

CPPIB is making the investment in partnership with Cairn Capital through a new European commercial mortgage fund.

The Toronto-based fund manager's portion of the bond purchase is 150 million euros while Cairn's share is 30 million euros, for a total of 180 million euros.

CPP Investment Board manages an investment portfolio worth about $278.9 billion on behalf of the Canada Pension Plan.