“Affirm has established a leading position in a large and growing segment of consumer finance by offering transparent payment solutions that resonate with both consumers and merchants,” said Paras Vira, managing director and head of Americas structured credit at CPP Investments, in the release.
CPP Investments is also investing $474 million in South Korea’s hospitality sector through a new partnership with BlueCove Investment.
The deal will result in the investment organization holding 95 per cent of the venture, which will focus on acquiring and repositioning hotel assets across Seoul. It will invest up to $112 million to seed the initial projects.
“Korea’s hospitality market is supported by strong domestic demand and growing inbound tourism,” said Gilles Chow, head of Asia-Pacific real estate at CPP Investments, in a press release.
Read: CPP Investments acquiring data centre company, signs MOU with Alberta energy firm
In other news, the British Columbia Investment Management Corp. launched a capital solution strategy within its private equity group.
The strategy will provide flexible capital across structured equity, general partner solutions and strategic opportunities, with a focus on preferred equity, continuation vehicles, recapitalizations and strategic minority stakes, according to a press release.
The release noted this change will give the BCI’s private equity division additional avenues to strengthen its relationships with the more than 1,000 companies it’s connected to directly and indirectly through its ecosystem of GPs, funds and institutional relationships.
“This strategy supports the continued evolution of our platform and reinforces [the] BCI’s role as a differentiated partner for GPs and companies seeking tailored capital solutions, empowering us to provide creative investment structures unique to each opportunity,” said Jon Salon, executive vice-president and global head of private equity at the BCI, in a press release.