CPPIB commits $330m to Canadian PE

Northleaf Capital Partners will manage an expanded Canadian fund of funds

The Canada Pension Plan Investment Board (CPPIB) will commit an additional $330 million to the Canadian private equity market through a Canadian fund of funds managed by Northleaf Capital Partners, according to a statement. The investment comes alongside CPPIB’s $70 million commitment made last year, to the Northleaf Venture Catalyst Fund.

Since 2005, CPPIB has committed $1.2 billion to Canadian private equity investments through its partnership with Northleaf.

For this commitment, Northleaf will focus on finding small and mid-market buyout and growth equity funds in Canada that are 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 in a statement.

As reported by our sister publication Secondaries Investor, yesterday CPPIB promoted two private investment executives – Mark Jenkins and Pierre Lavallee. Jenkins will take over for Andre Bourbonnais who is stepping down as managing director and head of private investments to become the CEO of the Public Sector Pension Investment Board in Montreal.

Lavallee will become senior managing director and global head of investment partnerships. This is a new department that will focus on building better relationships with CPPIB’s external managers in private and public funds, secondaries and co-investments and will work to expand direct private equity investments in Asia.