Canada’s largest pension fund has agreed to sell its 39 per cent stake in Dorna, which manages the world’s biggest motorcycle races. The buyer, Liberty Media, owns Formula One, event company Live Nation and satellite radio provider Sirius XM. (The Logic, The Canadian Press)

Talking point: CPP Investments will receive 75 per cent of the proceeds from the sale—which is subject to regulatory approvals and conditions and is expected to close by the end of the year—in cash and the rest in Series C Liberty Formula One tracking stock. U.K. investment manager Bridgepoint is also selling its shares, giving Liberty an 86 per cent stake in Dorna. CPP  Investments—which manages about $590 billion in assets—originally bought its stake in Dorna in 2013. The investment has “delivered excellent returns for the CPP fund,” said Hafiz Lalani, the fund’s global head of direct private equity, in a statement. The sale lets CPP cash in on the recent interest in Formula One racing, thanks in part to the Netflix series “Drive to Survive.”