CANADA - The Canada Pension Plan Investment Board has poured C$400m (US$375m) into a private equity fund of funds that will invest in Canadian small-mid sized companies.
The fund of funds will be managed by Northleaf Capital Partners and will target venture capital and growth equity funds looking to raise up to C$750m in capital commitments.
CPPIB senior vice president of private investments Mark Wiseman said: "Expanding our investment in a Canadian fund-of-funds is a highly effective way for us to access small to middle-market Canadian private equity transactions and top Canadian venture capital managers."
CPPIB already has a relationship with Northleaf. The manager was hired in 2005 to invest C$400m in small, Canadian private equity and venture capital firms.
*To read about Global Pensions' currency forum in Toronto, visit www.currencyforum.co.uk/toronto
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives.
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.