CPP Investments and Brookfield join forces for $50bn Maple Fund

Canadian pension giant CPP Investments and infrastructure manager Brookfield have announced a new collaboration which will see an additional $50bn committed to Canadian infrastructure projects.

The partnership, announced as part of the Canada Investment Summit, will structure investments on a 50/50 basis, with up to half of the capital to be deployed over the coming five years, supporting prime minister Mark Carney’s target to attract $1trn in investment by the end of the decade.

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Both parties said they will focus on opportunities with total project values greater than C$5 billion in equity capital in a bid to expand access to particularly large and complex projects that require significant upfront resources and development capabilities.

“Canada is entering a period of new ambition to advance major projects and build for the future, creating compelling investment opportunities across the country. CPP Investments has the capital, long-term investment horizon and expertise to pursue these opportunities, and the Maple Fund brings together our strengths with Brookfield’s strong origination and development capabilities to help move ambitious projects from opportunity to investment,” said John Graham, president and CEO of CPP Investments.

Both sides did not specify the nature of the deals, though the Canadian government has put forward a significant dealbook, which features a combination of renewable infrastructure and fossil fuel infrastructure assets among others.