Canadian Prime Minister Mark Carney announced Monday the establishment of the Canada Strong Fund—the country’s first national sovereign fund. It is intended to invest in strategic Canadian projects and companies.
The Canadian government will seed the fund, which will operate as a crown corporation, with C$25 billion ($18.38 billion) over the next three years, with further growth to come from investment returns and future assets allocated by the government.
The fund will aim to make equity investments across several industries, also seeking to partner alongside other investors on these projects.
“The Canada Strong Fund will focus on building Canada. From infrastructure to advanced manufacturing to energy and mining, the Fund will have a mandate to deliver market-rate returns for Canadians across the economy,” a statement from the Canadian government said.
The fund will also offer a retail investment product to enable any Canadian to invest into the sovereign fund. Sharing in the upside will protecting initial invested capital, according to a statement from the Canadian government.
“Canada’s new government is catalyzing a series of nation-building projects in energy, trade, critical minerals, transport, data, and beyond—projects that will make Canada stronger, more resilient, and more independent,” Carney said in a statement. “Through the Canada Strong Fund, all Canadians will have the opportunity to share directly in these benefits. This is our country, this is your future, and we are building it together.”
Canada’s pension funds—the largest of which are colloquially known as the Maple 8—managed an estimated $3.267 trillion in assets as of the end of 2024, according to data from WTW’s Thinking Ahead Institute. These funds, while prominent domestic investors, have been facing calls to invest more domestically.
A statement from the Canadian government noted that the new fund will also complement efforts from other institutions—including the Canada Infrastructure Bank, Export Development Canada, the Business Development Bank of Canada and the Canada Indigenous Loan Guarantee Corporation—to advance large-scale projects and support the growth of Canadian industry.
“Canada’s next chapter of growth starts with investing at home,” said François-Phillipe Champagne, Canada’s minister of finance and national revenue, in a statement. “The Canada Strong Fund will invest in key, strategic Canadian projects and companies, creating good-paying jobs, supercharging innovation, and keeping Canada competitive in a rapidly changing world.”
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Tags: Canada, Sovereign Wealth Fund