CPP Investments has committed an additional C$750m to its Canadian mid-market private equity programme managed by Northleaf Capital Partners, lifting its cumulative commitments to more than C$3bn.

The expanded mandate will continue to target Canadian small and mid-market buyout funds, secondary investments, and direct co-investments, providing diversified exposure to domestic private companies.

“There are compelling investment opportunities in the Canadian market, and our two-decade long partnership with Northleaf has proven to be an effective and scalable way to invest in homegrown businesses,” said Bruce Hogg, managing director and head of integrated strategies at CPP Investments.

Since the partnership began in 2006, CPP Investments and Northleaf have built one of the most active middle-market private equity programmes in Canada, investing in more than 100 funds and gaining exposure to approximately 900 companies.

Stuart Waugh, managing partner at Northleaf, said the expanded commitment reflected “shared conviction in the attractive opportunities to support growth, innovation and value creation in the Canadian mid-market”.

The move underlines how large pension funds are using customised private equity mandates to deploy patient capital domestically while maintaining diversification across strategies and vintages.

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