News Briefs

CPP re-ups C$200m for Northleaf-run Canadian mid-market platform

Northleaf now manages a total of C$2.4 billion in Canadian private equity investments on behalf of CPP Investments.

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  • Northleaf’s customized mandate for CPP Investments focuses on primary fund investments in small and mid-market Canadian buyout and growth funds, secondary investments and direct co-investments
  • The partnership was established in 2006
  • Over the past 15-plus years, Northleaf has committed more than C$3.4 billion to Canadian private equity investments

Canada Pension Plan Investment Board has extended its longstanding private equity investment partnership with Northleaf Capital Partners, committing C$200 million to an evergreen Canadian mid-market platform managed by the firm.

Northleaf’s customized mandate for CPP Investments focuses on maximizing net returns through primary fund investments in small and mid-market Canadian buyout and growth funds, secondary investments and direct co-investments.

Since the partnership was established in 2006, and with this allocation, Northleaf now manages a total of C$2.4 billion in Canadian private equity investments on behalf of CPP Investments.

“Through this Canadian private equity program managed by Northleaf, CPP Investments is able to efficiently access best-in-class Canadian private equity firms and co-investments, driving risk-adjusted returns for the CPP Fund,” said Caitlin Gubbels, managing director, head of funds, CPP Investments, in a statement. “Importantly, Northleaf continues to provide strong expertise and capabilities in the management and execution of this program.”

Over the past 15-plus years, Northleaf has committed more than C$3.4 billion to Canadian private equity investments and served on the limited partner advisory committee of more than 80 Canadian funds.

CPP Investments, Canada’s largest pension system, is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At June 30, 2023, the fund totaled C$575 billion.

Based in Toronto, Northleaf is a global private markets investment firm with more than $23 billion in private equity, private credit and infrastructure commitments.