Canadian Banks and Pension Funds Pledge Billions Ahead of Inaugural Investment Summit
Major Canadian financial institutions have announced multi-billion dollar commitments to domestic sectors ahead of the first Canada Investment Summit in Toronto, organized by Prime Minister Mark Carney.
Ahead of the inaugural Canada Investment Summit scheduled for next week in Toronto, several major Canadian banks and pension funds have announced significant capital commitments aimed at strengthening critical domestic sectors. The summit is being organized by Prime Minister Mark Carney alongside two Canadian pension funds with the goal of attracting foreign investment.
Bank of Montreal pledged to deploy up to $70 billion in new capital over the next ten years. This investment will target sectors deemed critical to Canada’s economy, including electricity, energy, transportation, mining, AI computing, defence, and oil and gas.
Pension funds are also increasing their domestic exposure. Ontario Teachers’ Pension Plan aims to invest an additional $10 billion in Canada by the end of 2027, a move intended to increase its domestic portfolio size. Similarly, the Public Sector Pension Investment Board plans to raise its investments in Canada by roughly one-third over the next few years, growing from $72.4 billion to $100 billion. Earlier this month, the Ontario Municipal Employees Retirement System (OMERS) announced it would add at least $10 billion in new domestic investments over the next five years.
Other financial institutions outlined specific initiatives focused on technology, defence, and small-to-medium businesses. Sun Life Financial Inc. launched an infrastructure investing initiative to deploy $5 billion over five years into digital technology, energy, transportation, and logistics. Royal Bank of Canada introduced a $1.4 billion fund dedicated to Canadian technology companies, including those in aerospace and dual-use defence firms. Additionally, the Canadian Imperial Bank of Commerce committed $2 billion over five years for small- and medium-sized defence-related and dual-use businesses.
These pledges respond to calls for increased lending to smaller enterprises and aim to support Canada’s economic security and resilience. The collective efforts are designed to foster growth in key areas such as energy, defence, artificial intelligence, and infrastructure.