The Canada Pension Plan Investment Board (CPPIB) and Cairn Capital are investing jointly in a bond backed by Romanian real estate.
A 鈧�180m, bond backed by properties owned by Globalworth Real Estate Investments, has been sold in one tranche.
CPPIB has taken 鈧�150m and Cairn Capital the remaining 鈧�30m.
It said it was investing through its CPPIB Credit Investments subsidiary, while Cairn Capital has used its European Commercial Mortgage Fund.
The bond is secured by prime real estate assets in Bucharest.
Martin Healey, managing director and head of private real estate debt at CPPIB Credit, said: 鈥淭his investment aligns well with our strategy of providing customised, large-scale funding solutions to borrowers with excellent underlying real estate assets and strong management teams.鈥�
