Canada’s leading pension funds, including the Canada Pension Plan Investment Board (CPPIB), Ontario Teachers’ Pension Plan (OTPP), and Omers, are revamping their private equity approach amid a challenging deal environment, according to a report by Bloomberg.
The so-called Maple Eight funds oversee over CAD400bn ($292bn) in private equity, roughly a fifth of their total assets, but rising interest rates, muted deal flow, and operational challenges have prompted a shift away from direct ownership in some regions.
CPPIB has moved certain holdings into a dedicated “integrated strategies group” and is exploring more passive co-investments, while OTPP maintains around 75% of its private equity in direct investments but increasingly partners with top-tier buyout firms. Omers has shuttered its European direct-investment arm and Asia team, pivoting toward global fund strategies and partnerships with firms such as Thoma Bravo and Warburg Pincus.
