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Major Investments

Our Investments Valued At More Than $200 Million

We annually disclose individual investments that exceed $200 million. Even though $200 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, 2019

Fixed Income and Short-Term Investments Over $200 Million

Type Maturity Coupon
(%)
Fair Value
($ millions)
Cost
($ millions)
Government of Canada bonds 2020-2064 0.50-8.00 $ 22,448 $ 20,567
Provincial bonds 2022-2051 1.35-6.35 12,450 11,392
Securities purchased under agreements to resell 2020-2021 -0.63-2.18 11,230 11,293
International corporate bonds 2020-2053 0.00-16.70 7,197 7,040
International sovereign debt 2020-2048 0.00-18.20 5,432 5,601
Canada treasury bills 2020-2020 0.00-0.00 4,761 4,754
Bank notes 2020-2059 0.00-0.00 2,346 2,348
Commercial paper 2020-2020 0.00-0.00 1,515 1,513
Canadian corporate bonds 2020-2047 0.00-14.00 473 453
U.S. treasury bonds 2020-2049 1.75-5.00 (3,497) (2,574)
Term debt issued 2021-2024 1.625-2.75 (7,187) (6,986)
Commercial paper issued 2020-2020 0.00-2.01 (8,490) (8,576)
Securities sold under agreements to repurchase 2020-2022 -0.55-2.28 (19,821) (19,983)

Real-Return Investments Over $200 Million

Type Maturity Coupon
(%)
Fair Value
($ millions)
Cost
($ millions)
Real-return Canada bonds 2021-2050 0.50-4.25 $ 17,220 $ 13,198
U.S. treasury inflation protection 2020-2049 0.13-3.38 13,939 11,618
Real-return provincial bonds 2021-2036 2.00-4.50 1,966 1,244
Real-return Canada corporate bonds 2021-2039 0.00-5.33 1,014 446

Corporate Shares/Units Over $200 Million

Security Name Shares
(millions)
Fair Value
($ millions)
Multiplan Empreendimentos Imobiliarios S.A. 54.8 $1,760.4
The Macerich Company 23.3 812.9
Alibaba Group Holding Limited 8.5 532.8
Barry Callebaut AG 0.2 462.4
Alphabet Inc. 0.2 399.3
Cushman & Wakefield plc 14.6 387.9
Mastercard Incorporated 0.8 326.0
Intact Financial Corporation 2.2 313.0
Ubisoft Entertainment SA 3.3 300.1
AIA Group Limited 19.7 267.8
Amazon.com Inc. 0.1 243.7
Samsung Electronics Co., Ltd. 3.8 235.4

Real Estate Properties Over $200 Million

Property Total Square Footage
(thousands)
Effective % Ownership

Canadian Regional Shopping Centres
 
Champlain Place, Dieppe 850 100%
Chinook Centre, Calgary 1,421 100%
Fairview Mall, Toronto 863 50%
Fairview Park Mall, Kitchener 838 100%
Fairview Pointe Claire, Montreal 1,163 50%
Le Carrefour Laval, Montreal 1,426 100%
Les Galeries D'Anjou, Montreal 1,141 50%
Les Promenades St. Bruno, Montreal 1,134 100%
Lime Ridge Mall, Hamilton 813 100%
Market Mall, Calgary 1,004 50%
Markville Shopping Centre, Markham 988 100%
Masonville Place, London 664 100%
Pacific Centre, Vancouver 1,072 50%
Polo Park Mall, Winnipeg 1,410 100%
Richmond Centre, Richmond 798 50%
Rideau Centre, Ottawa 1,416 100%
Sherway Gardens, Toronto 1,291 100%
Shops at Don Mills, Toronto 464 100%
Toronto-Dominion Centre, Toronto 159 70%
Toronto Eaton Centre, Toronto 2,540 100%

Canadian Office Properties
   
City Centre Office, Calgary 858 100%
Deloitte Tower, Montreal 515 100%
Pacific Centre Office Complex, Vancouver 1,819 50%
RBC Centre, Toronto 1,222 50%
Shell Centre, Calgary 694 100%
Toronto-Dominion Centre Office
Complex, Toronto
4,408 70%
Toronto Eaton Centre Office Complex,
Toronto
2,190 100%
Waterfront Centre, Vancouver 401 50%
Yonge Corporate Centre, Toronto 661 100%
160 Front Street West, Toronto 1,254 50%
16 York Street, Toronto 895 70%

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

Land
 
East Harbour Lands, Toronto 152 100%

Private Companies and Partnerships Over $200 Million

  • 24 Hour Fitness Worldwide Inc.
  • 24-7 Intouch Inc.
  • Actera Partners II L.P.
  • AEA Investors Fund VI LP
  • Aethon Energy Management LLC
  • Aethon III LLC
  • Anthem Entertainment Group Inc.
  • Apollo Overseas Partners (Delaware 892) VIII, L.P.
  • Apollo Special Situations Fund, L.P.
  • Ares Corporate Opportunities Fund IV, L.P.
  • Ares Corporate Opportunities Fund V, 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.
  • Birmingham International Airport
  • 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
  • Centurium Capital Partners 2018, L.P.
  • CeramTec GmbH
  • Chisholm Energy Holdings, LLC
  • CIBanco, S.A. CIB/477
  • Compass Holdings LLC
  • Copenhagen Airport A/S
  • CSC ServiceWorks Holdings, Inc.
  • Cubico Sustainable Investments Limited
  • DaVinciRe Holdings Ltd.
  • Empresa de Servicios Sanitarios del Bio-Bio S.A.
  • Esval S.A.
  • European Camping Group
  • EWP PA Fund, LTD.
  • Exal International Limited
  • FAPS Holdings, Inc.
  • FirstFruits HoldCo, LLC
  • Fleet Complete
  • Flexera Holdings, L.P.
  • Flynn Restaurant Group LLC
  • FMAP ACL Limited
  • FMAP CIM Limited
  • FMAP EAM Limited
  • FMAP HLS Limited
  • FMAP MMO Feeder LP
  • FMAP PCM Limited
  • FMAP SOC Limited
  • FMAP WMC Limited
  • Fondo de Capital Privado Terranum
  • 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
  • Hg Saturn A L.P.
  • HRG Royalty II LLC
  • HRG Royalty LLC
  • Inmarsat plc
  • Intercos S.p.A.
  • Irish National Lottery
  • Kedaara Capital I Limited
  • Kyobo Life Insurance Co., Ltd.
  • Lendmark Financial Services
  • LMAP 903 Limited
  • LMAP 904 Limited
  • LMAP 909
  • LMAP 910
  • LMAP Chi Limited
  • LMAP Epsilon Limited
  • LMAP Kappa Limited
  • LMAP Pi Limited
  • London City Airport
  • Lowell Group Limited
  • LPC Multifamily Holdco LLC
  • MBK Partners Fund IV, L.P.
  • MBK Partners III, L.P.
  • Memora Servicios Funerarios, S.L.U.
  • MSB Capital Limited Class A
  • Oaktree European Principal Fund IV L.P.
  • OGF SA
  • Orbis Institutional Global Equity L.P.
  • Outdoor Holdings, LLC
  • PAG Asia I LP
  • PAG Asia II LP
  • PhyMed Healthcare Group
  • Phynet Dermatology LLC
  • Polar Multi-Strategy Fund (Legacy)
  • Pure International Holdings (BVI) Limited
  • RedBird Capital Partners Platform LP
  • RedBird Series 2019, LP
  • Resource Management Service Inc.
  • SCI PH Inc.
  • Scotia Gas Networks plc
  • SeaCube Container Leasing Ltd.
  • Shearer's Foods, Inc.
  • Silver Lake Partners IV, L.P.
  • Skyway Concession Company LLC
  • SmartFit Escola de Ginástica e Dança S.A
  • Sociedad Austral de Electricidad S.A.
  • Solus Offshore Opportunities Fund 5 LP
  • Space Exploration Technologies Corp.
  • Storapod Holding Company, Inc.
  • Sydney Desalination Plant Pty Limited
  • Synlab Limited
  • Techem GmbH
  • The AZEK Company
  • The Brussels Airport Company
  • Thoma Bravo Fund XII-A, L.P.
  • TierPoint, LLC
  • Traeger Pellet Grills Holdings LLC
  • Trian Partners, Ltd.
  • Verily Life Sciences LLC
  • VIN Amarone Fund Limited
  • Warburg Pincus Private Equity XII-B, L.P.
  • Westerleigh Group Holdings Limited
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