CI
Who CPP Investments is.
Where the institution came from, whose capital it manages, and how that capital is allocated — from Dealroom's LP research.
Historical Background
- CPP Investments was established in 1997 through an Act of Parliament to professionally manage the funds of the Canada Pension Plan.
- While accountable to federal and provincial ministers, it operates at arm's length from the government with an independent board of directors.
- In 2018, the organization issued its first green bond to align with the global shift towards a lower-carbon economy.
- By 2022, the fund had grown to manage over half a trillion dollars and announced a commitment for its portfolio and operations to achieve net-zero greenhouse gas emissions.
Source of Capital
- The investor's capital is sourced from the contributions made by employees and employers to the Canada Pension Plan (CPP).
- The fund grows through both the net contributions from the CPP and the income generated from its investment activities.
Major Events
- In May 2025, the organization announced it would exit its investment in the data management company Informatica following its acquisition by Salesforce, expecting to generate C$3.7 billion in net proceeds.
- The fund has recently committed up to €460 million to expand Nido Living's student housing platform in Continental Europe.
- A joint venture was established with Mitsui & Co. to develop and operate data centers in Japan, with an initial equity allocation of approximately C$400 million from CPP Investments.
Allocation Strategy
- The organization invests globally across a wide range of asset classes, including public and private equities, real estate, infrastructure, and fixed-income instruments.
- Geographically, the fund has significantly increased its exposure to the United States, which represented 47% of its portfolio in fiscal year 2025, while investments in Canada accounted for 12%.
- The allocation strategy aims to maximize long-term investment returns without taking on undue risk, ensuring the sustainability of the Canada Pension Plan for future generations.
The funds CPP Investments backs.
CPP Investments is a limited partner in 236 funds. 20 of them place in the Power Law Investor Ranking, and the best-ranked are shown here.
How CPP Investments’ fund book is spread.
The 236 funds CPP Investments backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters, across the 233 of 236 with a location on record.
- North America 13658%
- Rest of world 5021%
- Europe 4720%
United States 122 · United Kingdom 34 · Canada 14 · China 12
How established those managers are
Managers grouped by how many funds they have raised. 59 emerging (three funds or fewer), 85 established — across the 144 of 236 with a fund history on record.
CPP Investments’ biggest current holdings.
An estimate of CPP Investments’ largest live positions — disclosed shareholding × Dealroom’s latest valuation — across 10 companies where CPP Investments is a named shareholder, worth about $2.7B in estimated equity value.
-
1
Octopus Energy
11.9%
$9.0B
$1.1B
-
2
Dailyhunt
8.5%
$5.0B
$425M
-
3
Redaptive
42%
$1.0B
$420M
-
4
Kry
10%
$2.0B
$200M
-
5
Perfect Day
12%
$1.6B
$192M
-
6
Inari
7%
$2.2B
$152M
- 7 3.6% $3.2B $115M
- 8 5.5% $1.0B $55M
- 9 3.5% $1.5B $52M
- 10 1.5% $1.1B $17M
4 companies hidden on this public profile. Estimated value = CPP Investments’ disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. CPP Investments also appears inside investor groups in Eikon Therapeutics, Loft, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →
CPP Investments’ biggest exits.
Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from CPP Investments’ transaction record.
The companies CPP Investments backs directly.
CPP Investments holds 109 companies directly, separate from the funds it commits to as a limited partner. The 12 largest by total funding are shown.
How those direct holdings break down by headquarters country, sector, entry stage and current growth stage. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.
-
USA64
-
Canada10
-
India9
-
UK7
-
Brazil3
-
Hong Kong3
-
Sweden3
-
China2
-
France2
-
Germany2
-
Australia1
-
Japan1
-
Health21
-
Energy19
-
Fintech18
-
Enterprise Software16
-
Transportation9
-
Food6
-
Media6
-
Security6
-
Education5
-
Real Estate5
-
Marketing4
-
Robotics4
-
Series B+96
-
Series A4
-
Seed1
-
Late Growth82
-
Mature13
-
Breakout Stage7
-
Early Growth7
Inside CPP Investments’ portfolio.
The 60 highest-funded portfolio companies, of 109 tracked.
WaDaAnFlNoPaByLyKlHeEdOc
ReMu
FN
ZoIn
GR
Si
DeDa
FW
Fo
Co
Ne
WM
We
Ca
Ei
Ko
Fe
Ka
Sc
Un
Ch
Lo
Sa
Pe
Er
MaKr
In
In
Ac
Pl
CoRe
Tu
Hy
Ve
La
Ch
Ol
Be
Si
Me
Sm
Fa
Se
21Where CPP Investments’ portfolio founders come from.
169 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.
-
United States90
-
India18
-
Canada15
-
United Kingdom10
-
Brazil6
-
Sweden6
-
Israel4
-
Germany3
-
Finland2
-
Hong Kong2
-
Stanford University11
-
University of California, Berkeley10
-
Massachusetts Institute of Technology9
-
Harvard Business School5
-
Harvard University5
-
University of Cambridge4
-
University of Oxford4
-
University of Toronto4
-
Cornell University3
-
Harvard Medical School3
-
Alphabet | Google7
-
McKinsey & Company7
-
Bain & Company6
-
Stanford University6
-
Tesla5
-
Goldman Sachs4
-
JP Morgan4
-
Massachusetts Institute of Technology4
-
Microsoft4
-
Lehman Brothers3
Other LPs.
Other pension funds in the Power Law LP ranking, closest to CPP Investments by combined power-law score — North America first, then the nearest worldwide.