Canada Pension Plan Investment Board plans hedge fund allocation expansion
One of the hedge fund industry's most influential institutional investors is preparing a major increase in its exposure over the next five to seven years. The planned expansion would take Canada Pension Plan Investment Board's total hedge fund allocation to about $160 billion and signals continued appetite for large alternative investment strategies.
Highlights
- Canada Pension Plan Investment Board plans to roughly double hedge fund investments to about $160 billion over the next five to seven years.
- The fund seeks new partnerships with hedge funds it does not currently back, including Millennium Management led by Izzy Englander.
- This planned allocation increase signals institutional confidence in hedge funds and could boost demand for large managers as allocators pursue diversification.
Planned allocation increase over coming years
As reported by Bloomberg, Canada Pension Plan Investment Board is planning to roughly double the money it invests in hedge funds over the next five to seven years, according to people familiar with the matter.The pension investor is targeting a total hedge fund allocation of about $160 billion in the coming years. It is particularly interested in gaining exposure to hedge fund firms it does not currently back, including Izzy Englander's Millennium Management, the people said.
Implications for hedge fund industry backing
The planned increase stands out as a bullish signal for the hedge fund sector because Canada Pension Plan Investment Board is one of the industry's most important institutional backers.An expansion on this scale would deepen the pension fund's role in alternative investments and could support demand for the largest hedge fund managers as major allocators continue to seek diversification across external strategies.
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