PSP Investments ramps up PE investing to $6.3 bln last year, earns 16.1 pct return

Public Sector Pension Investment Board, Canada’s fourth largest pension system, increased activity in the global private equity market last year, deploying $6.3 billion. The outlay, noted last week in PSP Investments’ fiscal 2019 report, is up 43 percent from the $4.4 billion disbursed in fiscal 2018. That helped push PE portfolio assets to $24 billion. PE investments also generated a one-year return of 16.1 percent in fiscal 2019, exceeding a benchmark of 12.3 percent. These data indicate PSP is continuing to reap the rewards of a four-year strategy that changed the way it invests in PE and infrastructure, in part by doing more direct deals.

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