The Canada Pension Plan Investment Board (CPPIB) announced yesterday that it has committed an additional $330 million to the Canadian private equity market. This is in addition to the $70 million commitment to the Northleaf Venture Catalyst Fund last year.
The new investment will be committed to a Canadian fund-of-funds program to be managed by Northleaf. The CPPIB has set a mandate for Northleaf to focus on Canadian small and mid-market buyouts, as well as growing equity funds seeking to raise $1 billion or less in capital commitments.
“By expanding our successful Canadian fund-of-funds program, CPPIB can effectively access the Canadian private equity market,” said Jim Fasano, Managing Director, Head of Funds, Secondaries & Co-Investments, CPPIB. “We remain confident in Northleaf’s capabilities, expertise and proven track record in continuing to manage this program.”
The CPPIB has committed $1.2 billion to Canadian private equity investments via Northleaf since 2005.