CPPIB invests in second mall in China with developer

TORONTO — The Canada Pension Plan Investment Board, the country’s largest pension fund, said it plans to invest $193 million in a Chinese shopping mall, forging a second joint venture in the country with its partner Longfor Properties Co. CPPIB’s investment will give it a 49 per cent stake in the Chongqing West Paradise Walk, a six-level shopping mall built in 2008 in one of China’s largest cities, the partners said in a statement Thursday. Longfor is a retail mall developer in China. CPPIB and Longfor established its first joint venture in 2014 with a mixed-use real estate project in Suzhou.