Canada Pension Plan Investment Board is playing a major role in talks to inject money into the new fund, the people said, asking not to be identified discussing confidential details. Investment adviser StepStone Group and GIC, Singapore’s sovereign wealth fund, are discussing investing alongside CPPIB, the people said. Evercore Inc. is advising on the transaction, they said.
Canada’s largest pension fund and Singapore’s GIC Pte are in advanced talks to back PSG Equity’s plan to transfer US$1.8 billion ($2.38 billion) of company stakes into a new vehicle designed specifically for this type of asset-shifting.
PSG plans to move roughly a half-dozen investments from several older funds into a new one known as a continuation fund, gaining more time to earn fees and profits from the assets, according to people familiar with the matter.
