Canada Pension Plan Investment Board (CPPIB) announced today that its wholly owned subsidiary, CPPIB Credit Investments Inc., has agreed to provide a £240 million corporate mezzanine development facility to Quintain, a Lone Star-owned investment company focused on London development. The mezzanine facility is part of a larger five-year £800 million facility, which will support the further development of Wembley Park in London, U.K.

This financing will allow for the delivery of a new Masterplan for Wembley Park. Quintain aims to transform Wembley from an events destination into a neighbourhood comprising new homes, venues, shops and workspaces. The Wembley Park project will deliver more than 4,800 new homes in the Wembley area, more than a third of which will be affordable, with many available to rent.

“We are pleased to support Quintain and Lone Star in the work they are doing to redevelop the area surrounding Wembley Stadium into one of London’s most exciting destinations to live, shop and work,” said Geoff Souter, Managing Director, Head of Private Real Estate Debt, CPPIB. “This investment fits well with our strategy of providing customized, large-scale funding solutions to borrowers with high-quality underlying real estate assets.”

Wells Fargo and AIG provided the remaining debt, in the form of a revolving senior position.

“We are delighted to have secured the support of three major global financial institutions for a new corporate lending facility which provides the flexibility we need to deliver our plans to build new homes for London,” said Simon Carter, Finance Director of Quintain.

About Canada Pension Plan Investment Board

Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 19 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At September 30, 2016, the CPP Fund totalled C$300.5 billion.

For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn or Twitter.

About Quintain

Quintain is the London developer behind the transformation of Wembley Park in north west London. Established in 1992, Quintain acquired its interest in Wembley Park in 2002. To date, the 85-acre development, adjacent to the SSE Arena, Wembley and London Designer Outlet, has already seen £800 million invested and now welcomes over 10 million visitors a year and has 1,800 residents. The site currently comprises the world famous SSE Arena, Wembley which Quintain refurbished and reopened in 2006; London Designer Outlet, which includes 70 high street outlet stores, restaurants, bars, coffee shops and a 9‐screen Cineworld cinema; a 361 room 4 star Hilton Hotel and over 1,000 new homes.