Canada is one of PSP Investments' most important markets, with approximately 20% of our portfolio invested domestically.
In fiscal 2026, PSP Investments invested more than $10 billion in Canada, bringing our gross assets under management domestically to over $75 billion, reflecting the scale and depth of our Canadian portfolio.
We continue to deploy capital here at home with a long-term horizon, supporting growth across public and private equities, infrastructure, energy, and the AI ecosystem.
This sustained investment contributes to a strong, resilient Canadian economy while delivering on our mission to support the retirement security of the people who protect and serve Canada.
We translate global expertise into long-term investment opportunities here at home
PSP Investments has built a global platform of deep sector expertise, long-standing relationships, and operational experience that, when turned toward domestic opportunities, creates a distinctive ability to identify, evaluate, and back Canadian assets.
We ensure a coordinated, cross-asset-class approach that enhances market intelligence and aligns efforts around the most relevant opportunities.
Highlighted transactions →
The 407 ETR is an all-electronic, barrier-free toll highway spanning 108 km across the Greater Toronto Area, jointly owned by PSP Investments, CPP Investments and Ferrovial. Our 7.51% minority stake — our largest acquisition transaction in Canada to date — strengthens and diversifies our global roads portfolio, and brings our transportation expertise to a highway that serves more than 3 million Canadians weekly.
PSP Investments and BCE Inc., a long-standing Canadian champion of innovation and connectivity, formed Network FiberCo to accelerate the expansion of BCE-owned Ziply Fiber's network across underserved U.S. markets. The investment reflects our conviction that high-quality digital infrastructure, with its long-duration and inflation-protection attributes, is among the most compelling assets for long-term pension investors.
The Canada Champions Strategy is an internally managed active Canadian equity strategy focused on investing in high-quality Canadian companies with strong long-term growth potential. The strategy leverages our scale, deep local market expertise, and long-term investment horizon to selectively increase exposure to leading Canadian businesses, with the objective of generating disciplined, risk-efficient alpha while maintaining a cost-effective implementation approach.
PSP Investments was part of the investor group led by Blackstone and La Caisse in support of a C$2.5 billion minority equity investment in Aeroplan, one of Canada’s leading loyalty programs. The investor group acquired a 25% non-controlling equity interest in Aeroplan, valuing the program at C$10 billion, while Air Canada retained full control over Aeroplan’s strategy, operations and day-to-day management. The transaction underscored the value of Aeroplan’s differentiated loyalty platform and supported Air Canada’s strategic plan and long-term growth.
FirstLight is a leading clean power producer, developer, and energy storage company serving North America, particularly in Quebec and Ontario. With a diversified portfolio that includes over 1.6 GW of operating renewable energy and energy storage technologies and a development pipeline with 4+ GW of solar, battery, hydro, and onshore and offshore wind projects, FirstLight specializes in hybrid solutions that pair hydroelectric, pumped-hydro storage, utility-scale solar, large-scale battery, and wind assets.
PSP Investments was part of the investor group led by Blackstone in connection with a CDN$7 billion equity investment in Rogers Communications. The transaction involved a non-controlling interest in a new Canadian subsidiary of Rogers that owns a portion of Rogers’ wireless backhaul transport infrastructure, while Rogers maintained full operational control of its network. The proceeds from the transaction were intended to be used to repay debt, unlocking the unrecognized value of critical assets and supporting Rogers’ commitment to de-lever its balance sheet.
Launched in 2020, PSP Investments' High Inflation Correlated Infrastructure (HICI) strategy invests in North American core infrastructure with defensive, predictable, inflation-linked cash flows and investment-grade credit ratings. The strategy is designed to match PSP Investments' inflation-indexed pension liabilities — a match that is strongest with Canadian assets, where the link to domestic inflation is most direct.
Concessional Capital
Through our wholly owned subsidiary, Canada Growth Fund Investment Management Inc. (CGFIM), PSP Investments serves as the independent and exclusive investment manager of the Canada Growth Fund. The assets of the Canada Growth Fund are funded through distinct capital provided by the Government of Canada.
