On December 12, 2013, Canada Pension Plan Investment Board (CPPIB) announced that it signed an agreement to acquire the assets of Assiniboia Farmland LP (Assiniboia), a fund that owns and manages a portfolio of farmland in Saskatchewan. CPPIB's equity investment will be up to C$128 million, pending final adjustments.
The transaction is expected to close in January 2014.
CPPIB is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries.
Assiniboia is the largest farmland investment management company in Canada, with about 115,000 acres under management.
Further information can be found on CPPIB's
website.