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The Global Peer Financing Association (GPFA), a trade body launched and run by buy-side entities and aimed at promoting collaboration between beneficial owners members in the securities finance market, has gained Canadian pension fund CPP Investments as a member.
CPP Investments brings $475.7 billion in assets under management (as of 31 December 2020) to the peer-to-peer lending pool the association is forming, which already accounts for more than $6 trillion from 11 members, as of January.
The addition of a 12th buy side member will maintain the strong growth momentum the association has enjoyed since launching less than a year ago.
CPP Investments is the second member to join this year, following the State Board of Administration of Florida in January.
GPFA chair Robert Goobie has previously outlined plans to form several working groups that will allow members to share information on all aspects of their securities financing programmes and find opportunities to collaborate on solutions to common challenges.
These groups will assess a wide range of topics including how members approach their triparty repo activity through the Fixed Income Clearing Corporation, as well as issues around legal, credit and new technologies.
Goobie, who also serves as assistant vice president collateral management, fixed income and derivatives at HOOPP says GPFA will also focus on environmental, social and governance as a key topic of interest for the association’s members and outlined ambitions for collaborating on setting standards and creating principles that might advance the adoption of sustainable financial practices across the global market.
