Canada PSP Sees 4.4% Gain Amid Boost From Credit Investments (1)

Canadian pension manager Public Sector Pension Investment Board posted a 4.4% return in its most recent fiscal year, boosted by credit and infrastructure investments.

PSP’s credit arm gained 13%, and its infrastructure portfolio earned 19%, in the year ended March 31, according to a statement.

Chief Executive Officer Deborah Orida said in an interview that she sees private credit markets as attractive amid an economic slowdown and persistent inflation, as banks retreat from lending. The fund invests mostly on private equity-sponsored finance, which performed well even in a rising rate environment, she said. Most of the private credit investments, around ...