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Top 10 Biggest Canadian Public Pensions Surpass C$1.3 Trillion in Assets

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The top ten largest Canadian public pensions have surpassed C$ 1.3 trillion (US$ 957 billion) in assets in 2015. The top 10 Canadian public pension assets combined is roughly equivalent to 84.7% of Canada’s gross domestic product (using 2015 GDP estimates). The three largest Canadian public institutional investors are the Caisse de dépôt et placement du Québec (CDPQ), Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan (OTPP). In addition, when combining all the operating subsidiaries like Oxford Properties and Ivanhoe Cambridge controlled by these investors, more than 80% of the assets are managed internally.

Five of these institutional investors rank in the top #30 of largest direct investors of all-time, according to the Sovereign Wealth Fund Transaction Database. The database tracks direct transactions made by sovereign funds, large pensions, endowments and other public funds.

Fund Rankings Database

Canadian Pension Profiles and Allocation Data


Largest Canadian Public Pensions – Billions CAD


1. Total Assets (use first) 2. Net Assets | Latest CY 2015 Figures

All of the top 10 public institutional investors manage an excess of C$ 15 billion in assets under management.

Funds and Ownership, KKR Partners with Shinhan Financial

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South Korean financial giant Shinhan Financial Group Co., Ltd. reached a preliminary agreement with KKR & Co. to form a series of global buyout funds that could raise up to 5 trillion KRW. KKR and Shinhan signed a Memorandum of Understanding (MoU) in Seoul in early October. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norwegian Government Recommends SWF Remains at Central Bank

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There was speculation that Norway Government Pension Fund Global (GPFG) could be managed outside of Norges Bank. The Norwegian government shot down this idea and recommended Norway’s GPFG remain in Norges Bank. This recommendation came in the form of a white paper submitted to the Norwegian Parliament, Stortinget.

Norway’s Minister of Finance Siv Jensen, commented in a press release, “The Government proposes a new and modernised governance structure for Norges Bank. Moving forward, this new structure lays the foundations for the sound management of the central bank and of the GPFG.”

Some Central Bank Recommendations

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Invesco Buys OppenheimerFunds for $5.7 Billion

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Invesco Ltd. signed a deal to acquire OppenheimerFunds, Inc. from Massachusetts Mutual Life Insurance Company (MassMutual). In turn, MassMutual and the OppenheimerFunds employee shareholders will receive a combination of common and preferred equity consideration, and MassMutual will become a significant shareholder in Invesco, with an approximate 15.5% stake. This strategic transaction will bring Invesco’s total assets under management (AUM) to more than US$ 1.2 trillion. The transaction is expected to close in the second quarter of 2019, pending necessary regulatory and other third-party approvals. The transaction gives Invesco access to more third-party distribution platforms.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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