Public Sector Pension Investment Board
The Public Sector Pension Investment Board (PSP Investments) is a Canadian Crown corporation created by Parliament in 1999 to manage retirement funds for public sector workers. It is one of Canada's largest pension investment managers, with CA$299.7 billion in assets under management as of March 2025. Its portfolio spans public markets, private equity, real estate, seniors housing, infrastructure, natural resources, and private debt, managed by more than 1,000 professionals.
Headquartered in Ottawa, PSP Investments also has its main business office in Montreal and additional offices in New York, London, and Hong Kong.
Key people are Maryse Bertrand (Chair of the Board) and Deborah K. Orida (CEO).
What it does
PSP Investments funds retirement benefits for employees in the Public Service, the Canadian Armed Forces, the Royal Canadian Mounted Police, and the Reserve Force after March 1, 2007.
Notable activity and investments
- 2013: Purchased AviAlliance (the airports division of Hochtief) for about €1.1 billion.
- 2015: Formed SKY Leasing with ATL Partners to lease service aircraft.
- 2018: Bought the 370‑acre Downsview Airport site in Toronto from Bombardier for around US$635 million and created Northcrest Developments to oversee the mixed-use project.
- 2023: Became the investment manager for the CAD 15 billion Canada Growth Fund.
- 2023: FirstLight Power, owned by PSP Investments, acquired Hydroméga, a Montreal-based clean power company.
- 2023: Participated in the Series A funding of Promise Robotics (Toronto), led by Horizon Ventures.
- 2024: Reported a 16% loss on its real estate investments, the worst performance in that asset class since 2008.
- 2024: Maryse Bertrand was appointed as the new Chair of the Board (June).
- 2024: Acquired about a 14% stake in French nursing home operator Korian (July).
- 2022–2023: PSP Investments and its partner Starlight Investments increased rents on around 6,000 residential units in Toronto and the Greater Toronto Area, with an Above Guideline Increase request of 4.2% that drew protests from some residents.
PSP Investments is part of a group of Canadian public pension funds known informally as the "Maple 8."
This page was last edited on 3 February 2026, at 07:17 (CET).