CPPIB Plans Major Expansion, Temasek Poaches Talent and Saudi Arabia Reveals Plans for PIF

October 14, 2016 by Loch Adamson

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Mark Machin, President and CEO of Canada Pension Plan Investment Board. On November 1, Mark Machin, president and CEO of Toronto-based government pension manager the Canada Pension Plan Investment Board (CPPIB), will testify in front of the House of Commons finance committee as the Canadian government prepares to rewrite legislation governing CPPIB — and significantly ramp up its assets under management. Currently, CPPIB invests C$287.3 billion ($217.1 billion) on behalf of the Canada Pension Plan in a widely diversified portfolio. Thanks to its current structure, the pension fund’s contributions are expected to outstrip benefits paid out by the fund until 2023. Under new proposals put forward by Prime Minister Justin Trudeau’s government, CPPIB will receive a larger pension pot to manage as it extends pension benefits starting in 2019. Although the specifics of the legislative plan have not yet been made public, Canada’s Finance Minister, William "Bill" Morneau,…

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