Conference Presentation, Fireside Chat, Interview
Conversation with Deborah Orida, President & CEO of PSP Investments | Global Dialogues Toronto 2026
- The summit was co-organized by Devorita, Jonathan Gray, John Graham, and Mark Weisman, evolving from a planned focused nucleus into a broader ecosystem of international investors.
- Canada's pension system includes the $300+ billion PSP and the "Maple 8" group managing approximately $2.1 trillion.
- PSP generated the highest returns among the Maple 8 over the last five years.
- Historically, Canadian pension plans have been net exporters of capital due to global index evaluations, though this event aims to reverse the trend by importing capital.
- PSP expects to exceed $100 billion in Canadian investments over the coming years, representing a 30–40% increase from current levels.
- Last year, PSP invested $10 billion in Canada, split between direct private investments and increased allocations to Canadian public equities.
- The investment strategy is driven by private market opportunities rather than government mandates, citing the inflation-linked nature of infrastructure as a natural fit for Canadian pension liabilities.
- PSP manages the independent $15 billion Canada Growth Fund mandate, targeting energy, clean tech, and critical minerals.
- The Canada Growth Fund is deploying capital to de-risk projects unsuitable for private capital, including $2 billion in financing for the first Small Modular Reactor (SMR) in the G7 near Darlington.
- Key competitive investment themes identified for Canada include energy, critical minerals, aerospace, defense, and frontier technology.
- An investment "book" and a manager "book" were created to connect international investors with Canadian deals and investment managers in infrastructure, private equity, and clean tech.
- The summit facilitated over 80 events and hundreds of bilateral meetings to foster investment connections.
- Defense and critical minerals sectors are being explored through "dual-use" infrastructure that serves both commercial extraction and military needs.
- PSP anticipates playing a partner role in helping new projects navigate Canadian federal and provincial regulatory frameworks.
- Government tools to improve investability include offtake agreements with minimum prices for critical minerals and availability payments for infrastructure roads.
- Devorita emphasized the necessity of converting current global interest and excitement in Canada into tangible investment actions over the coming weeks and months.