Nearly $500 Billion 'Unleashed' at Inaugural Canada Investment Summit
The Canadian Press reports CPP Investments and Brookfield launch $50B fund to invest in big Canadian projects: TORONTO — Canada Pension Plan Investment Board and Brookfield Asset Management Ltd. have announced a new $50-billion fund aimed at backing critical infrastructure and strategic industry projects across Canada. The so-called Maple Fund will see the two organizations invest on a 50-50 basis, with each committing up to $25 billion in equity over an initial five-year period. The fund is one of the marquee announcements to emerge at a new investment summit in Toronto hosted by Prime Minister Mark Carney in partnership with CPP Investments and PSP Investments, two of Canada’s largest pension investors. CPP Investments chief executive John Graham said Canada is entering a period of new ambition to advance major projects and build for the future, creating compelling investment opportunities across the country. “CPP Investments has the capital, long-term investment horizon and ex...