The Canadian Press

The CPP Investment Board is committing an additional $400 million to be invested in the Canadian private equity and venture capital market.

The board manages a portion of the Canada Pension Plan’s assets that aren’t required for current payouts to pensioners.

CPPIB says the latest $400 million commitment will be managed by Northleaf Capital Partners

Northleaf was also selected in 2005 by CPPIB to manage a previous $400-million commitment for Canadian private equity and venture capital funds.

The mandate of the new investment will be to back Canadian small-to-mid-market funds seeking to raise $750 million or less for buyouts, venture capital or growth equity.