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The Canada Pension Plan Investment Board (manages the pension plan that all working Canadians pay into) is heading further out on the risk curve in search of higher returns, putting $300-million (U.S.) into the $1.9-billion purchase of a majority stake in Internet phone service Skype by a group of private equity funds.
The pension fund is teaming up with Silver Lake Management LLC, a firm that specializes in technology buyouts, and two U.S. venture capital firms to purchase a 65-per-cent stake in Skype from eBay Inc., the online auction company. CPPIB will own 15 per cent of the business.
www.thestar.com
The pension fund is teaming up with Silver Lake Management LLC, a firm that specializes in technology buyouts, and two U.S. venture capital firms to purchase a 65-per-cent stake in Skype from eBay Inc., the online auction company. CPPIB will own 15 per cent of the business.
Canada Pension plan buys Skype stake
The Canada Pension Plan is among a group of buyers purchasing a majority stake in the free online calling service Skype.
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