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Canada Pension Plan Investment Board Forms Venture with BTG Pactual to Invest in Residential Development Opportunities in

Canada Pension Plan Investment Board Forms Venture with BTG Pactual to Invest 
in Residential Development Opportunities in Brazil 
TORONTO, ONTARIO -- (Marketwired) -- 10/25/13 -- Canada Pension Plan
Investment Board (CPPIB) announced today that it has formed a venture
with Banco BTG Pactual S.A. (BTG) to invest in residential
development opportunities in Brazil. CPPIB has committed an equity
investment of US$240 million for a 40% interest in the venture and
BTG has committed to making an equal investment. BTG will act as the
investment advisor and manage the day-to-day affairs of the venture,
while CPPIB will have a seat on the investment committee which
approves all investments made by the venture. 
"This opportunity provides us with an attractive entry point to the
Brazilian residential market as we continue to expand our real estate
portfolio in Brazil. The fundamentals of Brazil's residential
development sector are compelling as a growing middle class,
increased economic activity, and favourable demographic shifts drive
increased demand for new housing," said Peter Ballon, Vice-President
and Head of Real Estate Investments - Americas, CPPIB. "We are
pleased to be investing alongside BTG, a well-aligned and experienced
local partner with a proven track record in the residential sector." 
The venture, which will invest capital alongside local residential
developers, will leverage BTG's extensive experience in the Brazilian
residential market and its position as one of Brazil's leading
investment banks. 
CPPIB's real estate portfolio in Brazil is valued at C$1.5 billion at
September 30, 2013. The portfolio includes interests in retail,
office and logistics properties totalling more than 4.1 million
square metres (44 million square feet), including development assets. 
"Brazil remains a strategic market for CPPIB over the long term and
we will continue to seek attractive investment opportunities through
partnerships with top-tier local partners," said Mr. Ballon. 
About Canada Pension Plan Investment Board 
Canada Pension Plan Investment Board (CPPIB) is a professional
investment management organization that invests the funds not needed
by the Canada Pension Plan (CPP) to pay current benefits on behalf of
18 million Canadian contributors and beneficiaries. In order to build
a diversified portfolio of CPP assets, CPPIB invests in public
equities, private equities, real estate, infrastructure and fixed
income instruments. Headquartered in Toronto, with offices in London
and Hong Kong, CPPIB is governed and managed independently of the
Canada Pension Plan and at arm's length from governments. At June 30,
2013, the CPP Fund totalled C$188.9 billion. For more information
about CPPIB, please visit
Linda Sims
+1 (416) 868-8695
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