CPP Investments Partners with BlueCove to Enter Hospitality Sector in Korea

SEOUL, South Korea, June 2, 2026 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) and BlueCove Investment (BlueCove), a Korean hospitality-focused asset manager, today announced a KRW 500 billion (C$474 million) hospitality partnership. CPP Investments will hold a 95% interest in the venture, with BlueCove owning the remaining 5%.

CPP Investments logo

This marks CPP Investments' first direct investment in Korea's hospitality sector. The partnership, working closely with established global hotel operators, will be focused on acquiring and repositioning hotel assets across Seoul. As part of its initial pipeline, the venture plans to pursue two projects in Seoul's tourist hubs. CPP Investments has committed up to KRW 119 billion (C$112 million) to seed the venture's initial projects.

"Korea represents a compelling next step in CPP Investments' hospitality strategy in the Asia Pacific region, building on our recent hospitality investment in Japan," said Gilles Chow, Head of Real Estate, Asia Pacific at CPP Investments. "Korea's hospitality market is supported by strong domestic demand and growing inbound tourism. Together, these dynamics position the partnership to capture the sector's continued growth and deliver attractive long‑term returns for the CPP Fund."

"We see strong momentum in Korea's hospitality market. By bringing together CPP Investments' global capital and insights and BlueCove's on-the-ground expertise, we are well positioned to optimize both existing and new hospitality assets across the country. Together, we look forward to building a portfolio that delivers lasting value," said Esby Kim, CEO of BlueCove Investment.

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 and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At March 31, 2026, the Fund totaled C$793.3 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.

About BlueCove Investment
BlueCove Investment is a Korea-based hospitality-specialist asset manager. Founded in 2019, the firm has developed deep expertise across Korea's premier hotel market, with a portfolio spanning Grand Hyatt Seoul, Grand Josun Busan and Parnass Hotel Jeju. BlueCove partners with leading domestic and international institutional investors to acquire, convert and reposition hospitality assets in prime Korean locations. For more information, please visit www.bluecoveinvestment.com.

SOURCE Canada Pension Plan Investment Board

For more information: CPP Investments, Connie Ling, Public Affairs & Communications, [email protected], T: + 852 3959 3476; BlueCove Investment, Sooyeon Kim, Brand Strategy Director, [email protected], T: [phone]