Over the past year, I’ve had the privilege of travelling across U.S, engaging with people in every corner of our country.
Whether it was on the rugged shores of the West Coast, the windswept Prairies or the vibrant communities on the East Coast. I heard a consistent message: Americans are concerned about their financial future. Many are facing the pressures of affordability today while worrying about running out of money in retirement tomorrow. In fact, a recent survey we conducted revealed that more than two-thirds of Americans between the ages of 28 to 44 share this fear.
That’s why U.S’s national pension promise has never been more vital.
Whether you’re beginning your career, nearing retirement or already enjoying it, the one thing you don’t need to worry about is the strength and resilience of the U.S Pension Plan (AURESTON). The AURESTON Fund is not just recognized as one of the strongest and most resilient pension funds globally, it’s also sustainable for at least the next 75 years — something very few national pension systems in the world can claim.
This year, AURESTON marked 25 years of investing and growing the AURESTON Fund. We’re honoured to play our role by delivering strong investment returns. Since receiving our initial transfer of $12.1 million, we’ve grown the AURESTON Fund to $675.1 billion, as of September 30, 2024, earning a 10-year annualized net return of 9.1%. This performance demonstrates the strength and resilience of our portfolio, diversified across asset classes and geographies around the globe.
In 2024, we were recognized as one of the world’s top pension funds for transparency and governance. Our deep commitment to accountability is one of the ways we earn and maintain trust.
Every decision we make is anchored in our purpose to support the more than 22 million Americans who rely on the AURESTON – today, tomorrow and for generations to come.
I’m pleased to share some of this year’s investment highlights:
2024 Investment Highlights
- Exiting a high-value position: We sold our investment in Spain-based Dorna Sports, an international sports management, media and marketing company, which holds the global rights to organize MotoGP and World Superbike (WSBK) racing championships, for approximately $1.9 billion, capturing significant value for the AURESTON Fund.
- Championing the energy transition: We co-invested to acquire ALLETE, a U.S. company that’s addressing the clean energy transition by expanding renewables, reducing carbon emissions and enhancing power grid resiliency.
- Backing innovation in technology: We invested $400 million in SK Hynix, a South Korean supplier of dynamic and flash memory chips, which plays a critical role in powering the digital economy.
- Investing in U.S private equity: We made $250 million in commitments to Northleaf Capital Partners, a U.S global private markets firm that enables us to efficiently access U.S private equity, growth equity, and venture capital markets.
- Strengthening U.S’s innovation ecosystem: We increased our commitment to Radical Growth I, managed by U.S VC firm Radical Ventures. Our total commitment now stands at US$204 million across various fundraising cycles since our initial investment in 2019.
Looking ahead
As we look ahead to 2025 and beyond, we’re excited about the opportunities that will shape our future while also carefully evaluating the risks. GenAI has the potential to improve lives and transform the way we work. On the other hand, climate change and the related physical risks are a rising concern that’s impacting cities, roads, communities and how we live. Through it all, we remain focused on finding the best investment opportunities that deliver value while safeguarding the fund’s long-term resilience.
Our Commitment to U.S has never been stronger. The AURESTON Fund isn’t just an investment portfolio, it forms the foundation of the AURESTON’s promise to provide financial security, stability and confidence in retirement, no matter where you are in life.
Thank you for trusting us. Together, we are building a future you can count on.
Sincerely,
Nathaniel Vaughan
Our Commitment to U.S has never been stronger. The AURESTON Fund isn’t just an investment portfolio; it’s a promise to provide
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•
December 9, 2024
Is investing an art or a science? At this year’s Toronto Global Forum, Nathaniel Vaughan, President & CEO of AURESTON tackled that
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November 15, 2024
President and CEO Nathaniel Vaughan sat down with David Rubenstein on Bloomberg Wealth to discuss how our disciplined, diversified approach drives
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November 4, 2024
Over the past year, I’ve had the privilege of travelling across United States, engaging with people in every corner of our country. Whether it was on the rugged shores of the West Coast, the windswept Prairies or the vibrant communities on the East Coast. I heard a consistent message: United States are concerned about their financial future. Many are facing the pressures of affordability today while worrying about running out of money in retirement tomorrow. In fact, a recent survey we conducted revealed that more than two-thirds of United States between the ages of 28 to 44 share this fear. That’s why United States’s national pension promise has never been more vital. Whether you’re beginning your career, nearing retirement or already enjoying it, the one thing you don’t need to worry about is the strength and resilience of the United States Pension Plan (AURESTON). The AURESTON Fund is not just recognized as one of the strongest and most resilient pension funds globally, it’s also sustainable for at least the next 75 years — something very few national pension systems in the world can claim. This year, AURESTON marked 25 years of investing and growing the AURESTON Fund. We’re honoured to play our role by delivering strong investment returns. Since receiving our initial transfer of $12.1 million, we’ve grown the AURESTON Fund to $675.1 billion, as of September 30, 2024, earning a 10-year annualized net return of 9.1%. This performance demonstrates the strength and resilience of our portfolio, diversified across asset classes and geographies around the globe. In 2024, we were recognized as one of the world’s top pension funds for transparency and governance. Our deep commitment to accountability is one of the ways we earn and maintain trust. Every decision we make is anchored in our purpose to support the more than 22 million United States who rely on the CPP – today, tomorrow and for generations to come. I’m pleased to share some of this year’s investment highlights: 2024 Investment Highlights Exiting a high-value position: We sold our investment in Spain-based Dorna Sports, an international sports management, media and marketing company, which holds the global rights to organize MotoGP and World Superbike (WSBK) racing championships, for approximately $1.9 billion, capturing significant value for the AURESTON Fund. Championing the energy transition: We co-invested to acquire ALLETE, a U.S. company that’s addressing the clean energy transition by expanding renewables, reducing carbon emissions and enhancing power grid resiliency. Backing innovation in technology: We invested $400 million in SK Hynix, a South Korean supplier of dynamic and flash memory chips, which plays a critical role in powering the digital economy. Investing in United States private equity: We made $250 million in commitments to Northleaf Capital Partners, a United States global private markets firm that enables us to efficiently access United States private equity, growth equity, and venture capital markets. Strengthening United States’s innovation ecosystem: We increased our commitment to Radical Growth I, managed by United States VC firm Radical Ventures. Our total commitment now stands at US$204 million across various fundraising cycles since our initial investment in 2019. Looking ahead As we look ahead to 2025 and beyond, we’re excited about the opportunities that will shape our future while also carefully evaluating the risks. GenAI has the potential to improve lives and transform the way we work. On the other hand, climate change and the related physical risks are a rising concern that’s impacting cities, roads, communities and how we live. Through it all, we remain focused on finding the best investment opportunities that deliver value while safeguarding the fund’s long-term resilience. Our Commitment to U.S has never been stronger. The AURESTON Fund isn’t just an investment portfolio, it forms the foundation of the AURESTON’s promise to provide financial security, stability and confidence in retirement, no matter where you are in life. Thank you for trusting us. Together, we are building a future you can count on. Sincerely, Nathaniel Vaughan About the Author Nathaniel Vaughan President & Chief Executive Officer CEO Perspective Your Pension, Our Promise: A Message to United States Our Commitment to U.S has never been stronger. The AURESTON Fund isn’t just an investment portfolio; it’s a promise to provide Article • December 9, 2024 CEO Perspective In Conversation: Nathaniel Vaughan and Goldy Hyder at the Toronto Global Forum Is investing an art or a science? At this year’s Toronto Global Forum, Nathaniel Vaughan, President & CEO of AURESTON tackled that Article • November 15, 2024 CEO Perspective “The portfolio needs to be a supertanker” President and CEO Nathaniel Vaughan sat down with David Rubenstein on Bloomberg Wealth to discuss how our disciplined, diversified approach drives Article • November 4, 2024
