Canada Pension Plan Investment Board - in class discussion

Does CPPIB have a clear investment strategy? How would you characterize it?

To what extent is CPPIB saving money by investing directly? If it were instead to invest in traditional private partnerships through funds-of-funds, how much better would the private equity partnerships need to be to justify their fees? Compare CPPIB's approach with the alternative of investing through a fund-of-funds.

If you were another LP in a fund with CPPIB and you saw CPPIB co-investing alongside the GP, how would you react?

What risks and challenges does CPPIB's strategy pose? How might it backfire? People are an essential part of private investing. How does CPP recruit and retain its investment staff? What challenges does it face?