Canada Pension Plan Investment Board (CPP Investments) and Brookfield Asset Management have jointly launched the Maple Fund, committing up to $50 billion of equity capital to support large Canadian projects valued at upwards of $5 billion. The 50-50 partnership, announced during the Canada Investment Summit earlier this week, is initially set for a five-year period with an emphasis on critical infrastructure and strategic industries.

“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,” says John Graham, president and chief executive officer of CPP Investments.

The Maple Fund is intended to be incremental to both organizations’ investment programs, and they will independently assess and approve potential undertakings in line with their own guidance and processes. It’s expected there will also be opportunities for other investors to partner with CPP and Brookfield on individual projects to deepen the available capital pool.

Coincidentally, Deborah K. Orida, president and chief executive officer of PSP Investments, confirmed during the Investment Summit that the pension fund aims to deploy 30 to 40 per cent more capital within Canada during the next few years. After $10 billion worth of domestic activity during its last fiscal year alone, the promised added injection should push PSP Investments’ Canadian holdings above the $100 billion threshold.

Ontario Teachers’ Pension Plan is likewise pledging to plump up a Canadian portfolio that already accounts for about 30 per cent of its $303-billion in net assets. “We look forward to building on this strong base of domestic exposure through investing a further $10 billion in compelling Canadian opportunities across public and private markets by the end of next year,” says Jo Taylor, president and chief executive officer of Ontario Teachers’.

“We believe the Maple Fund can help drive a generational investment program to invest in critical infrastructure, industries and businesses that will support the growth of globally competitive Canadian businesses,” observes Connor Teskey, chief executive officer of Brookfield Asset Management. “The Maple Fund brings together two companies with a shared commitment to investing in the country’s future.”