PRINT THIS PAGE CPP Investment Board co-invests $120m in secondary acquisition with Paul Capital Partners10/02/2004. Source: AltAssets. 
 The CPP Investment Board has agreed to commit $120m to CPP Investment Board-Paul Capital holdings II, a $310m limited partnership that will acquire secondary interests in private equity funds. The portfolio will be managed by Paul Capital Partners and will consist primarily of US buy-out funds.
'This transaction continues our strategy of leveraging our internal capabilities with our external partners,' says John MacNaughton, president and chief executive officer, CPP Investment Board. 'We continue to take advantage of an active secondary market to provide us with earlier distributions, attractive returns and enhanced diversification.'
This announcement brings the CPP Investment Board's private equity commitments to a total of $6bn. Commitments to secondary portfolios currently make up approximately 17.5 per cent of the CPP Board's overall private equity portfolio.
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