The Canada Pension Plan Investment Board (CPPIB) is devoting an additional $330 million to the Canadian private equity market.

This latest private equity investment will be committed to a Canadian fund-of-funds program that will be managed by Northleaf Capital Partners. It will focus on Canadian small and mid-market buyout and growth equity funds that are seeking to raise $1 billion or less in capital commitments.

“By expanding our successful Canadian fund-of-funds program, CPPIB can effectively access the Canadian private equity market,” said Jim Fasano, managing director, head of funds, secondaries & co-investments, CPPIB. “We remain confident in Northleaf’s capabilities, expertise and proven track record in continuing to manage this program.”

Since 2005, the CPPIB has made $1.2 billion worth of Canadian private equity investments through its partnership with Northleaf.

“We look forward to continuing our longstanding partnership with CPPIB in managing this additional mandate for the Canadian private equity market, and building a focused portfolio of top-tier Canadian mid-market funds,” said Jeff Pentland, managing director at Northleaf. “We are proud to have supported CPPIB in advancing their program since 2005, and we value and appreciate CPPIB’s continued confidence in our team, track record and investment process.”