Ontario P3s to open for pension investment

Pension funds will play a significant role in funding infrastructure and P3 projects, Ontario Premier Katherine Wynne reiterated yesterday.

Speaking at the Canadian Council PPP conference, Wynne said the province was looking for private partners with deep pockets to help build transit and other projects, opening the door for large pension funds to invest.

Wynne said infrastructure was “critical” for Ontario and said it was “at the very heart of my government plan.” 

Later in the day at the release of the provinces Fall statement more details were revealed with the Premier and Ontario’s Economic Minister Charles Sousa announcing rules would be changed to lift the restriction on Ontario institutional investors owning public infrastructure projects.

Currently a pension fund can only own up to 30%, but that will be amended to allow them to own some assets outright, clearing the way for a number of pension funds to begin investing in P3 projects.