CPP Investments (CPPI)

History

2023: $7.7 billion purchase of Qualtrics from SAP

In mid-March 2023, SAP announced the sale of all its shares in the American company Qualtrics International. The buyers are funds affiliated with the Silver Lake investment company, as well as CPP Investments (Canada Pension Fund Investment Board). The transaction value is $7.7 billion.

2022: Dissolution of cryptanalyst team after investment in collapsed crypto exchanges

On December 7, 2022, it became known that Canada's largest pension fund CPP Investments (CPPI) had curtailed a project to study the possibilities for developing a cryptocurrency business and dismissed the corresponding team of specialists.

CPP Investments controls assets worth 529 billion Canadian dollars (approximately $388 billion) for the benefit of approximately 20 million citizens. At the beginning of 2021, Alpha Generation Lab (part of CPPI), specializing in the study of promising investment trends, formed a team of three people for research cryptocurrencies and business related to. It blockchain was assumed that the development of this area will create new sources of income.

Canada's largest pension fund dissolves cryptanalyst team after investing in collapsed crypto exchanges

Nothing is said about the reasons for the folding of the CPPI crypto project. According to some sources, the team of cryptanalysts carried out work at least until July 2022, according to others, the research was stopped earlier. In any case, now these specialists are reoriented to other projects.

According to experts, the CPPI decision is due to the instability of the cryptocurrency market - in particular, the collapse of the FTX exchange and the failures of other organizations. Thus, the Ontario Teachers' Pension Fund (OTPP), which manages assets worth about C $242 billion, was forced to write off multimillion-dollar investments in FTX in connection with the bankruptcy of this cryptocurrency platform. At the same time, Canada's second largest pension fund, Caisse de dépôt et Placement du Québec (CDPQ), said earlier in 2022 that it was forced to write off investments of C $150 million in the bankrupt cryptocurrency credit company Celsius. And the Ontario Municipal Employees Pension System (OMERS) tried to develop the cryptocurrency business from 2012 to 2018, but in 2020 it stopped all investments in this direction.^[1]

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