Canada Pension Plan Investment Board (CPPIB) has committed an additional CAD330 million to the Canadian private equity market.
The funds will be committed to a Canadian fund-of-funds program that will be managed by CPPIB's longstanding investment partner, Northleaf. This investment is in addition to CPPIB's CAD70 million commitment in 2014 to the Northleaf Venture Catalyst Fund. Since 2005, CPPIB has committed CAD1.2 billion to Canadian private equity investments through its partnership with Northleaf.
The investment objective of this additional mandate is to focus on Canadian small and mid-market buyout and growth equity funds that are seeking to raise CAD1 billion or less in capital commitments.
CPPIB is one of the largest and most active investors in Canadian private equity and venture capital with approximately CAD4.1 billion in commitments to Canadian fund managers and an active direct private equity investment strategy for the Canadian market.
"By expanding our successful Canadian fund-of-funds program, CPPIB can effectively access the Canadian private equity market," says 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."
"We look forward to continuing our longstanding partnership with CPPIB in managing this additional mandate for the Canadian private equity market, and building a focused portfolio of top-tier Canadian mid-market funds," says Jeff Pentland, Managing Director, Northleaf Capital Partners. "We are proud to have supported CPPIB in advancing their program since 2005, and we value and appreciate CPPIB's continued confidence in our team, track record and investment process."