Canada’s $182 Billion PSP Fund Sees 28% Private Equity Gains

Canada’s Public Sector Pension Investment Board posted a 10.9% return in its most recent fiscal year, reaping big gains from a private equity strategy that’s heavily weighted to technology and health-care investments.

PSP’s private equity holdings gained 28%, and its real estate portfolio earned 25%, in the year ended March 31, according to a statement. Both groups have the majority of their assets in the US and Europe.

That helped offset weak returns in PSP’s C$100 billion ($79.1 billion) portfolio of public equities and bonds, which returned 3% as higher inflation, rising interest rates and the war in Ukraine caused ...