CPP Investments and Brookfield Asset Management have launched the Maple Fund, a new cooperation framework that could deploy up to C$50 billion of equity into large-scale infrastructure projects and strategic industries across Canada.
The initiative combines CPP Investments’ long-term capital and investment expertise with Brookfield’s development, operating and execution capabilities. The firms said the structure is intended to make it possible to pursue unusually large and complex Canadian projects that require significant capital and development resources.
CPP Investments and Brookfield plan to fund investments on a 50/50 basis, with each organization able to contribute up to C$25 billion over an initial five-year period.
The Maple Fund will primarily target opportunities with project equity values above C$5 billion. Other investors may also participate alongside CPP Investments and Brookfield in individual transactions, potentially allowing the framework to support projects requiring substantially more capital than the C$50 billion committed by the two founding organizations.
The arrangement is not a traditional blind-pool investment fund. Each prospective transaction will be independently reviewed and approved by CPP Investments and Brookfield through their existing investment and governance processes.
The Maple Fund will also be incremental to their normal investment programs. Both institutions remain free to pursue Canadian opportunities independently, together or with other partners.
The scale of the partners gives the initiative significant financial capacity. CPP Investments managed C$863.6 billion as of June 30, 2026, investing across public and private equities, infrastructure, real estate, fixed income and alternative strategies. Brookfield manages more than $1 trillion across infrastructure, energy, private equity, real estate and credit.
For Canada, the framework is designed to address a financing challenge associated with major projects. Very large infrastructure, industrial and strategic investment opportunities can require substantial development spending well before projects reach construction or full operation. Pairing CPP Investments’ capital base with Brookfield’s operating and development capabilities could allow the firms to take on opportunities that would be difficult for a single investor to execute.
Individual Maple Fund investments will be announced as definitive agreements are reached.
KEY QUOTES:
“The Maple Fund positions us well to meet this moment and move with speed on opportunities of unusual scale and complexity when they offer compelling value for the CPP Fund.”
John Graham, President and CEO of CPP Investments
“By combining CPP Investments’ scale and long-term capital with Brookfield’s development and operating capabilities, we believe the Maple Fund can help drive a generational investment program.”
Connor Teskey, CEO of Brookfield Asset Management
