In the fourth of Unquote's Lockdown series, Delaney Brown, managing director and head of PE funds at Canada Pension Plan Investment Board (CPPIB), discusses improved GP/LP relations since lockdown began and how there are no plans to scale back on direct or co-investments
CPPIB takes a long-term view in private equity and has the ongoing belief in patient capital to deliver strong risk adjusted returns over cycles, says Brown, adding that, of its C$95bn asset base in private equity, 50% is made up of direct investments in Asia, Europe and North America.
Brown also discusses the recent €400m injection into HotelBeds due to short-term liquidity constraints caused by a drop in demand and cessation of travel, as well as finding new areas to invest in, such as venture.
Charcoal and natural additives company saw final bids from two banks and one direct lender
VCs including the Swiss Entrepreneurs Fund, BtoV and Ringier Digital Ventures also participated
Around 40 existing and new LPs, including British Patient Capital and the EIF, participated
Fund will invest in buyouts, recapitalisations and carve-outs of both profitable and underperforming businesses