More large Canadian pension funds and the crown corporations that manage their assets are opening offices beyond their borders, looking to enhance their alternative investments outside of Canada.
So far in 2014, the C$114 billion (US$106.3 billion) British Columbia Investment Management Corp., Victoria, and the C$70 billion Alberta Investment Management Corp., Edmonton, have opened their first international offices in London. And in June, Michael Sabia, president and CEO of the C$200.1 billion Caisse de Depot et Placement du Quebec, Montreal, announced the fund would open offices in Washington, Mexico City and Singapore, in addition to its current offices in New York and Beijing.
They join several other Canadian plans with offices abroad:
- Canada Pension Plan Investment Board, Toronto, which oversees C$219.1 billion in assets for the Canada Pension Plan, Ottawa, with offices in New York, London, Hong Kong and, most recently, in Sao Paulo;
- C$140.8 billion Ontario Teachers' Pension Plan, Toronto, with offices in New York, Hong Kong and London; and
- C$65.1 billion Ontario Municipal Employees Retirement System, Toronto, with offices in New York and London.