The Public Sector Pension Investment Board (PSP Investments) is a Canadian Crown corporation established by the Parliament of Canada in September 1999 through the Public Sector Pension Investment Board Act. PSP Investments is one of Canada's largest pension investment managers, with CAD $264.9 billion of net assets under management in fiscal year 2024. [1]
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]
PSP 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 2018, PSP bought the 370 acre Downsview Airport site in Toronto from Bombardier Inc. for a reported US $635 million. [5] [6] [7] PSP created a Northcrest Developments, a wholly-owned subsidiary, to manage the development of the site into a mixed-use urban development. [8]
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). [9] In September 2023, FirstLight Power, owned by PSP Investments, acquired Hydroméga, a Montreal-based clean power producer and developer operating in Eastern Canada. [10] In November 2023, PSP Investments participated in the Series A fundraise of Toronto-based Promise Robotics, which was led by Horizon Ventures. [11]
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. [12]
In July 2024, PSP Investments acquired a fourteen-percent stake in French nursing home company Korian. [13]
Bombardier Aviation is a division of Bombardier Inc. It is headquartered in Dorval, Quebec, Canada. Its most popular aircraft included the Dash 8 Series 400, CRJ100/200/440, and CRJ700/900/1000 lines of regional airliners, and the newer CSeries. It also manufactured the Bombardier 415 amphibious water-bomber, and currently makes the Global Express and the Challenger lines of business jets.
Jazz Aviation LP, commonly shortened to Jazz, is a Canadian regional airline based at Halifax Stanfield International Airport, in Enfield, Halifax, Nova Scotia, and is a wholly owned subsidiary of Chorus Aviation. Jazz Aviation provides regional and charter airline services in Canada and the United States, primarily under contract to Air Canada using the brand name Air Canada Express, and also as Jazz Charters.
Downsview is a neighbourhood in the north end of Toronto, Ontario, Canada, located in the district of North York. The area takes its name from the Downs View farm established around 1842 near the present-day intersection of Keele Street and Wilson Avenue. It now extends beyond the intersection of Sheppard Avenue and Dufferin Street, though it is popularly seen as including the areas to the north right up to the Toronto city limit at Steeles Avenue. The area includes several large post-World War II subdivisions. Within the area is Downsview Airport, the former site of Canadian Forces Base Downsview, which has since been largely converted following the end of the Cold War into an urban park known as Downsview Park. The airport is still used as a manufacturing and testing facility for Bombardier Aerospace. As of the 2021 census, the Downsview-Roding-CFB neighbourhood was split into the two neighbourhoods of Downsview and Oakdale–Beverley Heights.
AviAlliance is an airport management company headquartered in Düsseldorf, Germany. The company was founded in 1997 as Hochtief AirPort, a subsidiary of the international construction service provider Hochtief. Since 27 September 2013, the company has been owned by a subsidiary of the Public Sector Pension Investment Board.
Sun Life Financial Inc. is a Canadian financial services company. It is primarily known as a life insurance company.
Budapest Ferenc Liszt International Airport, formerly known as Budapest Ferihegy International Airport and commonly denoted as Ferihegy, is the international airport serving the Hungarian capital city of Budapest. It is the largest of the country's four commercial airports, ahead of Debrecen and Hévíz–Balaton. The airport is located 16 kilometres southeast of the center of Budapest and was renamed in 2011 after Hungarian composer Franz Liszt on the occasion of his 200th birthday. The facility covers 1,515 hectares and has two runways.
Telesat, formerly Telesat Canada, is a Canadian satellite communications company founded on May 2, 1969. The company is headquartered in Ottawa.
Downsview Airport was an airport located in Toronto, Ontario, Canada. An air field, then air force base, it has been a testing facility for Bombardier Aerospace from 1994. In 2018, Bombardier sold the facility to Northcrest Developments; in late 2023, Northcrest announced that industrial and airport operations would close by mid-2024, as redevelopment into commercial and residential properties moves forward. The airport was listed as closed March 7, 2024. On August 17, 2024, Northcrest Developments unveiled a new identity for the 370 acres of the former Downsview Airport lands drawing on the site’s history: YZD, as the transformation kicks off.
Canada Lands Company Limited is a self-financing federal Crown corporation reporting to the Parliament of Canada through Public Services and Procurement Canada. The company is responsible for managing property on behalf of the federal government, conducting public consultation and integrating properties back into their surrounding communities for development. Most of its assets are located in Canadian urban centres, and are sold after the CLC revalued the property by providing managerial support and subsidizing immediate costs such as decontamination. However, the company retains ownership of some of Canada's most valued properties, such as Downsview Park, the CN Tower, the Old Port of Montreal and the Montreal Science Centre, from which it draws rental and hospitality revenues.
The Ontario Teachers' Pension Plan Board is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario. Ontario Teachers' also invests the plan's pension fund and it is one of the world's largest institutional investors, acting as a partner organization of the World Economic Forum. The plan is a multi-employer pension plan, jointly sponsored by the Government of Ontario and the Ontario Teachers' Federation.
The Caisse de dépôt et placement du Québec is an institutional investor that manages several public and parapublic pension plans and insurance programs in the Canadian province of Quebec. It was established in 1965 by an act of the National Assembly, under the government of Jean Lesage, as part of the Quiet Revolution, a period of social and political change in Quebec. It is the second-largest pension fund in Canada, after the Canada Pension Plan Investment Board. It was created to manage the funds of the newly created Quebec Pension Plan, a public pension plan that aimed to provide financial security for Quebecers in retirement. The CDPQ’s mandate was to invest the funds prudently and profitably while also contributing to Quebec’s economic development. As of December 31, 2023, the CDPQ managed assets of C$434 billion, invested in Canada and elsewhere. The CDPQ is headquartered in Quebec City at the Price building and has its main business office in Montreal at the Édifice Jacques-Parizeau.
Porter Airlines is a Canadian airline headquartered at Billy Bishop Toronto City Airport on the Toronto Islands in Toronto, Ontario, Canada. Owned by Porter Aviation Holdings, formerly known as REGCO Holdings Inc., Porter operates regularly scheduled flights between Toronto and locations in Canada and the United States using a fleet of Canadian-built De Havilland Canada DHC-8-400 turboprop aircraft and Embraer E195-E2 jet aircraft.
Revera Inc. was a Canadian company that provided accommodation, care and services for seniors. It owned and operated retirement residences and long-term care facilities. Formerly named Retirement Residences Real Estate Investment Trust, it used to be a real estate investment trust (REIT) that was publicly traded on the Toronto Stock Exchange (TSX), but it was acquired by the Public Sector Pension Investment Board in 2007. Its CEO is Thomas G. Wellner and was formerly Jeffrey Lozon.
Alberta Investment Management Corporation (AIMCo) is a Canadian Crown corporation and institutional investor established to manage several public funds and pensions headquartered in Edmonton, Alberta. AIMCo was established by an act of the Legislative Assembly of Alberta in 2008 under the government of Progressive Conservative Premier Ed Stelmach.
The Canada Pension Plan Investment Board, operating as CPP Investments, is a Canadian Crown corporation established by way of the 1997 Canada Pension Plan Investment Board Act to oversee and invest the funds contributed to and held by the Canada Pension Plan (CPP).
Welltower Inc. is a real estate investment trust that invests in healthcare infrastructure. It is ranked 583rd on the Fortune 500. As of December 31, 2022, the company had investments in approximately 3,000 properties, all of which were in the United States, Canada, and the United Kingdom.
Athens International Airport S.A. or AIA is the airport authority that owns and manages Athens International Airport.
The Canada Infrastructure Bank (French: Banque de l'infrastructure du Canada) (CIB) is a federal Crown Corporation of Canada tasked with financially supporting revenue-generating infrastructure projects that are "in the public interest" by catalyzing private investment through methods such as direct investment and public-private partnerships.
James William (Jim) Leech is a Canadian business executive. Since 2021, he has been chancellor-emeritus of Queen's University in Kingston, Ontario, Canada. From 2014 to 2021, he was the 14th Chancellor of Queen's University. Prior to that, he spent 12 years at the Ontario Teachers’ Pension Plan (OTPP), first for 6 years as a senior vice-president of OTPP head of Teachers' Private Capital, OTPP's private investment arm, and then as president and chief executive officer of the pension plan until his retirement in 2013.
Robert Poirier, OOnt, is a Canadian businessman, and a 2022 recipient of the Order of Ontario for his work on infrastructure, environmental sustainability and community benefits.