Our Investments Valued At More Than $150 Million

We annually disclose individual investments that exceed $150 million. Even though $150 million represents less than 0.1% of our total fund, we choose it as a reporting threshold to give plan members and others greater insight into the diversity of our asset base.

As Responsible Investors, we invest broadly by asset type and geographic region in our search to earn the best risk-adjusted returns for plan members.

All data as at December 31, 2018

Fixed Income and Short-Term Investments Over $150 Million

Type Maturity Coupon
(%)
Fair
Value
($
millions)
Cost
($
millions)
Government of
Canada bonds
2019-
2064
0.50-
8.00
$ 21,124 $ 19,855
Securities purchased
under agreements
to resell
2019-
2020
-1.00-
2.90
15,826 15,577
Provincial bonds 2019-
2019
0.00-
8.50
11,997 11,803
International
corporate bonds
2019-
2053
0.00-
16.35
6,051 6,073
International
sovereign debt
2019-
2048
0.00-
18.20
5,795 6,057
Canada
treasury bills
2019-
2019
0.00-
0.00
4,396 4,389
Bank notes 2019-
2059
0.00-
2.25
3,590 3,582
Commercial paper 2019-
2019
0.00-
2.61
1,125 1,123
Canadian
corporate bonds
2019-
2040
0.00-
14.00
883 875
U.S. treasury bonds 2026-
2048
1.75-
6.25
(3,544) (2,689)
Term debt issued 2021-
2022
2.13-
2.13
(5,091) (4,669)
Commercial
paper issued
2019-
2019
2.13-
2.75
(8,676) (8,323)
Securities
sold under agreements
to repurchase
2019-
2021
-0.80-
7.75
(28,280) (27,869)

Real-Return Investments Over $150 Million

Type Maturity Coupon
(%)
Fair
Value
($ millions)
Cost
($ millions)
Real-return
Canada bonds
2021-
2050
0.50-
4.25
$ 16,941 $ 13,849
U.S. treasury
inflation
protection
2019-
2047
0.13-
3.88
14,300 12,624
Real-return
provincial
bonds
2021-
2036
2.00-
4.50
1,889 1,244
Real-return
Canada
corporate bonds
2021-
2039
0.00-
5.33
1,011 458

Corporate Shares/Units Over $150 Million

Security Name Shares
(millions)
Fair Value
($ millions)
Multiplan Empreendimentos
Imobiliarios S.A.
54.8 $1,415.1
The Macerich Company 23.3 1,376.5
Ubisoft Entertainment SA 3.8 418.2
Alphabet Inc. 0.2  324.2
Visa Inc. 1.2 212.8
SiteOne Landscape
Supply Inc.
2.0 151.0
Intact Financial Corporation 1.5 150.1

Real Estate Properties Over $150 Million

Property Total Square
Footage
(thousands)
Effective
% Ownership

Canadian Regional
Shopping Centres
 
Champlain Place, Dieppe 849 100%
Chinook Centre, Calgary 1,421 100%
Fairview Mall, Toronto 879 50%
Fairview Park Mall,
Kitchener
838 100%
Fairview Pointe Claire,
Montreal
1,173 50%
Le Carrefour Laval,
Montreal
1,428 100%
Les Galeries D'Anjou,
Montreal
1,320 50%
Les Promenades St. Bruno,
Montreal
1,125 100%
Lime Ridge Mall,
Hamilton
807 100%
Market Mall, Calgary 1,005 50%
Markville Shopping Centre,
Markham
1,016 100%
Masonville Place,
London
664 100%
Pacific Centre,
Vancouver
1,073 50%
Polo Park Mall,
Winnipeg
1,558 100%
Richmond Centre,
Richmond
800 50%
Rideau Centre, Ottawa 1,415 100%
Sherway Gardens,
Toronto
1,293 100%
Shops at Don Mills,
Toronto
466 100%
Toronto-Dominion Centre,
Toronto
159 70%

Toronto Eaton Centre,
Toronto
2,539 100%

Canadian Office
Properties
   
Calgary City Centre,
Calgary
845 100%
Deloitte Tower,
Montreal
515 100%
Granville Square,
Vancouver
402 50%
Pacific Centre
Office Complex,
Vancouver
1,819 50%
RBC Centre, Toronto 1,222 50%
Shell Centre, Calgary 695 100%
Toronto-Dominion
Centre Office
Complex, Toronto
4,409 70%
Toronto Eaton Centre
Office Complex,
Toronto
2,191 100%
Waterfront Centre,
Vancouver
401 50%
Yonge Corporate
Centre, Toronto
662 100%

Canadian
Hotel Properties
   
The Ritz-Carlton,
Toronto
335 100%

Private Companies and Partnerships Over $150 Million

  • 24 Hour Fitness Worldwide Inc.
  • 24-7 Intouch Inc.
  • Actera Partners II L.P.
  • AEA Investors Fund V LP
  • AEA Investors Fund VI LP
  • Aethon Energy Management LLC
  • Apollo Overseas Partners (Delaware 892) VIII, L.P.
  • Apollo Special Situations Fund, L.P.
  • Ares Corporate Opportunities Fund III, L.P.
  • Ares Corporate Opportunities Fund IV, L.P.
  • Aroona Farms SA Pty Ltd.
  • Arterra Wines Canada, Inc.
  • Automobile Protection Corporation
  • Autopista Arco Norte, S.A. de CV
  • Baldr Fund Inc.
  • BaseCore Metals LP
  • Baybridge Seniors Housing Inc.
  • BC European Capital - Intelsat Co-Investment-1 L.P.
  • BDCM Offshore Opportunity Fund II, Ltd.
  • Birmingham International Airport
  • BluEarth Renewables Inc.
  • Bristol Airport Limited
  • Broad Street Loan Partners III Offshore, LP
  • BroadStreet Capital Partners, Inc.
  • Busy Bees Benefits Holdings Limited
  • Camelot Group plc
  • Canada Guaranty Mortgage Insurance Company
  • Catterton Partners VII, L.P.
  • CeramTec GmbH
  • Chisholm Energy Holdings, LLC
  • Copenhagen Airport A/S
  • Coway Holdings, Inc.
  • CPG International Inc.
  • CPI Holdco LLC
  • CSC ServiceWorks Holdings, Inc.
  • Cubico Sustainable Investments Limited
  • DaVinciRe Holdings Ltd.
  • DTZ Jersey Holdings Ltd.
  • EdgeMarc Energy Holdings, LLC
  • Empresa de Servicios Sanitarios del Bio-Bio S.A.
  • Esval S.A.
  • Euclid Fund
  • European Camping Group
  • EWP PA Fund, LTD.
  • Exal International Limited
  • FAPS Holdings, Inc.
  • Fifth Cinven Fund (No.6) Limited Partnership
  • FirstFruits HoldCo, LLC
  • Flexera Holdings, L.P.
  • Flynn Restaurant Group LLC
  • FMAP ACL Limited
  • FMAP CIM Limited
  • FMAP EAM Limited
  • FMAP HLS Limited
  • FMAP PCM Limited
  • FMAP SOC Limited
  • FMAP WMC Limited
  • FountainVest China Growth Fund II, L.P.
  • GCT Global Container Terminals Inc.
  • GFL Environmental Inc.
  • Goldcrest Farm Trust REIT LLC
  • Hancock Timber Resources Group
  • Hawkwood Energy, LLC
  • HayFin Topaz LP
  • Heartland Dental Care, Inc.
  • Heritage Royalty Limited Partnership
  • HRG Royalty LLC
  • HRG Royalty II LLC
  • Hudson Catastrophe Fund, Ltd.
  • Imperial Parking Corporation
  • Infiltrator Systems, Inc.
  • Intercos S.p.A.
  • InterGen N.V.
  • Irish National Lottery
  • Kedaara Capital I Limited
  • Koole Tankstorage Zaandam B.V.
  • Kyobo Life Insurance Co., Ltd.
  • LMAP 903 Limited
  • LMAP 904 Limited
  • LMAP 909
  • LMAP 910
  • LMAP Chi Limited
  • LMAP Epsilon Limited
  • LMAP Kappa Limited
  • LMAP Pi Limited
  • LMAP Zeta Limited
  • London City Airport
  • Lowell Group Limited
  • MBK Partners III, L.P.
  • Memora Servicios Funerarios, S.L.U.
  • MR Argent Offshore Fund AB LP
  • MSB Capital Limited Class A
  • Nuevosur, S.A.
  • Oaktree European Principal Fund IV L.P.
  • OGF SA
  • OLE Media Management L.P.
  • Orbis Institutional Global Equity L.P.
  • Outdoor Holdings, LLC
  • PAG Asia I LP
  • PAG Asia II LP
  • Pershing Square VI International, L.P.
  • PhyMed Healthcare Group
  • Phynet Dermatology LLC
  • Polar Multi-Strategy Fund (Legacy)
  • Providence Equity Partners VI L.P.
  • Pure International Holdings (BVI) Limited
  • RedBird Capital Partners Platform LP
  • Resource Management Service Inc.
  • Riverbed Technology, Inc.
  • SCI PH Inc.
  • Scotia Gas Networks plc
  • SeaCube Container Leasing Ltd.
  • Shearer's Foods, Inc.
  • Silver Lake Partners III, L.P.
  • Silver Lake Partners IV, L.P.
  • Skyway Concession Company LLC
  • Sociedad Austral de Electricidad S.A.
  • Solus Offshore Opportunities Fund 5 LP
  • Spandana Sphoorty Financial Limited
  • Storapod Holding Company, Inc.
  • Sydney Desalination Plant Pty Limited
  • Synlab Limited
  • Techem GmbH
  • The Brussels Airport Company
  • Thoma Bravo Fund XI-A, L.P.
  • Thoma Bravo Fund XII-A, L.P.
  • TierPoint, LLC
  • TP Partners Fund L.P.
  • Traeger Pellet Grills Holdings LLC
  • Trian Partners Co-Investment Opportunities Fund, L.P.
  • Trian Partners, Ltd.
  • ValueAct Capital International Fund A, L.P.
  • ValueAct Capital International III, L.P.
  • Verily Life Sciences LLC
  • Warburg Pincus Private Equity XII-B, L.P.
  • Westerleigh Group Holdings Limited