CPP Investments Forms Joint Venture with IRA Capital to Invest in U.S. Medical Outpatient Buildings

CPP Investments allocates initial US$143 million of equity capital to the joint venture.

TORONTO, Jan. 22, 2026 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) today announced its participation in a joint venture with IRA Capital and a global institutional investor (the "Joint Venture") to invest in medical outpatient buildings. CPP Investments will hold a 47.5% stake in the Joint Venture.

CPP Investments has allocated US$143 million of equity capital to the Joint Venture, which will have an expected acquisition capacity of approximately US$850 million.

"The program will target modern outpatient care facilities in growing U.S. communities, where demand is supported by demographic trends and the shift of services from hospitals to outpatient settings," said Sophie van Oosterom, Managing Director, Head of Real Estate at CPP Investments. "We are pleased to establish this program with IRA Capital to invest in high-quality medical facilities across resilient markets, where effective management of the assets can enhance tenant experience and retention. This investment will help deliver long-term, risk-adjusted returns to the CPP Fund for the benefit of CPP contributors and beneficiaries."

As part of this Joint Venture, the partners have agreed to acquire an initial 1.5 million square-foot medical facility portfolio across 24 properties. The assets include on-campus and advanced outpatient care facilities that support physicians and health-system partners.

About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Canada Pension Plan Fund in the best interest of the more than 22 million contributors and beneficiaries. In order to build diversified portfolios of assets, we make investments around the world in public equities, private equities, real estate, infrastructure, fixed income and alternative strategies including in partnership with funds. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2025, the Fund totaled C$777.5 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments. 

SOURCE Canada Pension Plan Investment Board

For more information: Frank Switzer, Public Affairs & Communications, Email: [email protected], T: [phone]