Canada Pension Plan Investment Board is selling its stake in the world’s foremost organizer of motorcycle racing for $1.9-billion to the company that made Formula One auto racing a global success.
The deal allows CPPIB to cash out the investment its private-equity arm made in motorcycle racing. Dorna is a sports management, media and marketing company that organizes the world’s top-tier motorcycle races, where riders reach speeds of more than 360 kilometres an hour. CPPIB manages $591-billion in assets for more than 22 million contributors and beneficiaries of the Canada Pension Plan. Its private equity division has $146-billion in assets, accounting for 26 per cent of the fund.
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