Canada Pension Plan Investment Board, Toronto, committed C$330 million (US$260 million) to a new Canadian private equity fund of funds managed by Northleaf Capital Partners.
The fund of funds will focus on Canadian small- and midmarket buyout and growth equity funds that are seeking to raise C$1 billion or less in capital commitments.
The board, which oversees management of the C$234.4 billion Canada Pension Plan, Ottawa, has committed a total of C$1.2 billion to Canadian private equity investments managed in Northleaf funds of funds. Overall, the board has about C$4.1 billion committed to Canadian private equity and venture capital.
In 2014, CPPIB committed C$70 million to a separate fund, the Northleaf Venture Catalyst Fund, said Linda Sims, CPPIB spokeswoman.