The CPP Investment Board today announced commitments to one existing and three new private equity partners, totalling $740 million.

These newest commitments bring the CPP Investment Board’s private equity commitments to $7 billion committed to 50 limited partnerships managed by 41 private equity firms.

“We continue to selectively add new partners to our private equity portfolio and to build our relationships with existing partners,” said John MacNaughton, president and CEO, in a release. “Although it is still relatively early in the development of our private equity portfolio, we are pleased with its performance to date.”

The commitments include:

  • US$300 million to the KKR Millennium Fund L.P, a fund managed by Kohlberg Kravis Roberts & Co. with offices in New York, Menlo Park and London. The fund, with total commitments of US$5.75 billion is expected to be invested over the next four years and will focus on large scale leveraged buyout investments primarily in the United States, Western Europe and Canada.
  • 80 million euros to Partners Group Secondary, L.P. a fund managed by Partners Group, with offices in Zug, New York, Guernsey, London and Singapore. The 500 million euro fund is expected to be invested over the next three years in secondary interests across a number of private equity partnerships.
  • US$90 million to VSS Communications Partners IV, LP, a fund managed by Veronis Suhler Stevenson, with offices in New York and London. The fund, with a target of US$1.25 billion is expected to be invested over the next five years in mid-market media companies in the United States and Europe.
  • US$100 million to MidOcean Partners II, L.P. a fund managed by MidOcean Partners with offices in New York and London. The fund is expected to be invested over the next two years and will focus on late-stage middle market buyout investments in the United States and Europe.

The CPP Investment Board previously committed US$273 million to MidOcean Partners, L.P. in February 2003.

The value of the Canada Pension Plan reserve fund as at June 30, 2004, was $73.2 billion.