TORONTO — The Canada Pension Plan Investment Board has signed a deal to sell its remaining interest in its European non-performing loan portfolio to a joint venture including funds managed by Arrow Global Group and Fortress Investment Group.
The pension fund manager says the deal will deliver net proceeds to CPP Investments of about $1 billion across the total portfolio.
The move follows a comprehensive review of the portfolio and its long-term outlook.
Ben Mason, head of European credit at CPP Investments, says the decision will allow the fund to redeploy resources toward opportunities where it sees stronger risk-adjusted returns.
CPP Investments says the joint venture between Fortress and Arrow is designed to support the active management of the remaining assets.
The transaction is expected to close later this month.
This report by The Canadian Press was first published May 7, 2026.
The Canadian Press
