CPPIB Invests US$600M in China’s Ant Financial Subsidiary

The Canada Pension Plan Investment Board (CPPIB) is putting approximately US$600 million into Ant International Co. Ltd., a subsidiary of Chinese technology company Ant Financial Services Group (Ant). Since its 2004 launch of Alipay, a third-party mobile and online payment platform, Ant has built a platform to bring secure, transparent financial services to people and businesses globally. As of March 31, 2018, Alipay served about 870 million annual active users globally and more than 15 million small businesses in China. CPPIB is a Canadian Crown corporation that oversees and invests the funds contributed to and held by the Canada Pension Plan, and as of March 31, 2018, manages over C$356 billion in investment assets on behalf of 20 million Canadians.

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