Ontario Teachers' Pension Plan aims to double its infrastructure investments within the next five years.
"We are very much focused on the core infrastructure spectrum, but not exclusively," said Dale Burgess, senior managing director for infrastructure and natural resources, in an interview.
Mr. Burgess said he'd like to lift the level of investment in the asset class to C$40 billion ($33 billion) from currently C$17.8 billion, or about 8% of the total portfolio. Overall, the infrastructure and natural resources team has 60 people.
The Toronto-based pension plan is especially interested in assets that have high barriers to entry, the so-called core infrastructure, which usually have inflation protection, and provide a stable cash flow profile to the fund, according to Mr. Burgess. This category would involve airports, toll roads, regulatory utilities and renewable power.
It's also looking at "core-plus" or assets that are adjacent to that core sector that are slightly riskier, be it market risk, technology risk or commodity risk.
Ontario Teachers added to its infrastructure bets this year, buying stakes in the operator of thermal energy systems Enwave Energy Corp. in Canada, electricity transmission platform Evoltz Participacoes SA in Brazil and electricity distribution system operator Caruna in Finland.