The Public Sector Pension Investment Board (PSP Investments) is a Canadian Crown corporation established by an act of Parliament in September 1999. PSP Investments is one of Canada's largest pension investment managers, with CAD $264.9 billion of net assets under management in fiscal 2024.[1] It invests funds for the pension plans of the Public Service, the Canadian Armed Forces, the Royal Canadian Mounted Police and the Reserve Force.
More than 1000 professionals manage a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. PSP Investments' head office is located in Ottawa, Ontario, and its chief business office is located in Montreal, Quebec. It also has offices in New York City, London and Hong Kong. [2]
History
editPSP Investments was incorporated as a Crown corporation under the Public Sector Pension Investment Board Act in 1999. The investments will fund retirement benefits under the Plans for service after April 1, 2000, for the Public Service, Canadian Armed Forces, Royal Canadian Mounted Police, and after March 1, 2007, for the Reserve Force.
In May 2013, German construction company Hochtief sold its airports division (renamed AviAlliance) to PSP Investments for 1.1 billion euros.[3] In October 2015, PSP Investments formed a joint venture with ATL Partners, creating SKY Leasing, a service aircraft leasing company.[4]
In April 2023, PSP Investments entered into an agreement with the Government of Canada to be the investment manager for the CAD $15 billion Canada Growth Fund (CGF).[5] In September 2023, FirstLight Power, owned by PSP Investments, acquired Hydroméga, a Montreal-based clean power producer and developer operating in Eastern Canada.[6] In November 2023, PSP Investments participated in the Series A fundraise of Toronto-based Promise Robotics, which was led by Horizon Ventures.[7]
In June 2024, PSP Investments appointed Maryse Bertrand, the Chair of the Board of Governors of McGill University and Board Member of Metro Inc., as the new Chair of its Board of Directors.[8]
See also
editReferences
edit- ^ "2024 Annual Report - Public Sector Pension Investment Board" (PDF). www.investpsp.com. Retrieved 2024-07-07.
- ^ PSP Investments - Corporate Profile Archived 2011-07-06 at archive.today, PSP Investments, accessed 30 August 2009.
- ^ Ludwig Burger (7 May 2013). "Hochtief sells airport unit to Canada's PSP Investments for $1.4 billion". Reuters.
- ^ "ATL Partners and PSP Investments Launch Aviation Leasing Platform with Industry Veteran Richard Wiley". PR Newswire. Cision US Inc. Retrieved 7 July 2024.
- ^ "Liberals put growth fund in pension plan board's hands". National Post. Postmedia Network Inc. Retrieved 7 July 2024.
- ^ "PSP-backed FirstLight to buy clean power producer Hydroméga". PE Hub. PEI Group. Retrieved 7 July 2024.
- ^ "Promise Robotics bags Series A to bridge the big housing gap". The Tech Factor. The Tech Factor. Retrieved 7 July 2024.
- ^ "PSP Investments welcomes Maryse Bertrand as new Chair of the Board of Directors". Newswire.ca. Cision. Retrieved 7 July 2024.
External links
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