The Public Sector Pension Investment Board (PSP Investments) is a
Canadian Crown corporation
Crown corporations in Canada are government organizations with a mixture of Commerce, commercial and Public policy, public-policy objectives.Tupper, Allan. 2006 February 7.Crown Corporation" ''The Canadian Encyclopedia'' (last edited 2021 March 1 ...
established by an act of
Parliament
In modern politics, and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: representing the electorate, making laws, and overseeing the government via hearings and inquiries. Th ...
in September 1999. PSP Investments is one of Canada's largest pension investment managers, with CAD $204.5 billion of net assets under management as at March 31, 2021. It invests funds for the pension plans of the Public Service, the Canadian Armed Forces, the Royal Canadian Mounted Police and the Reserve Force.
More than 1000 professionals manage a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. PSP Investments' head office is located in Ottawa,
Ontario
Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central C ...
, and its chief business office is located in
Montreal
Montreal ( ; officially Montréal, ) is the second-most populous city in Canada and most populous city in the Canadian province of Quebec. Founded in 1642 as '' Ville-Marie'', or "City of Mary", it is named after Mount Royal, the triple ...
,
Quebec
Quebec ( ; )According to the Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is one of the thirtee ...
. It also has offices in New York City, London and Hong Kong.
History
PSP Investments was incorporated as a Crown corporation under the ''Public Sector Pension Investment Board Act'' in 1999. The investments will fund retirement benefits under the Plans for service after April 1, 2000, for the Public Service, Canadian Armed Forces, Royal Canadian Mounted Police, and after March 1, 2007, for the Reserve Force.
In May 2013, German construction company
Hochtief
Hochtief AG is a German construction company based in Essen, North Rhine-Westphalia, Germany.AviAlliance) to PSP Investments for 1.1 billion euros. In October 2015, PSP Investments formed a joint venture with ATL Partners, creating SKY Leasing, a service aircraft leasing company.