Canada Pension Plan Investment Board, Toronto, committed an additional C$200 million ($147) million to the Canadian private equity market through an evergreen Canadian midmarket mandate managed by Northleaf Capital Partners.
A CPPIB spokesperson said the name of the fund is Canadian Fund-of-Funds V and that as an evergreen mandate, it's an additional commitment to a customized mandate with the pension fund.
Since the private equity investment partnership between CPPIB and Northleaf was established in 2006, Northleaf now manages a total of C$2.4 billion in Canadian private equity investments on behalf of CPPIB, a Sept. 14 news release said.
Northleaf's mandate for CPPIB focuses on maximizing net returns through primary fund investments in small- and midmarket Canadian buyout and growth funds, secondary investments and direct co-investments, the news release said.
As of June 30, 2023, CPPIB assets totaled C$575 billion.
As of March 31, CPPIB had C$146 billion in private equity investments out of total assets of C$570 billion, a spokesperson confirmed.
Northleaf has raised more than $23 billion in private equity, private credit and infrastructure commitments from public, corporate and multiemployer pension plans, endowments, foundations, financial institutions and family offices, the release said.
