Export Development Canada (EDC) has been busy in providing funding to Canadian pension funds, private equity firms and PE backed firms in the first seven months of 2023, based on the disclosed financing information from Export Development Corporation (EDC).
Under Support for Canadian Direct Investment Abroad, EDC completed 54 financings and project financings, providing between $5.653 billion (minimum) and $9,205 billion (maximum) in total funding. The total funding is broken down to 40 financings for funding of between $4.048 billion and $6.815 billion, and 14 project financings for funding of between $1.605 billion and $2.390 billion.
Pension funds, PE and PE backed firms secured 33 financing/project financings for funding of $2.241 to $3.945 billion. Out of 14 project financings, 13 went to Pension funds, PE and PE backed firms.
| # Financings | $ Min (Mil) | $ Max (Mil) | # Financings | $ Min (Mil) | $ Max (Mil) | # Financings | $ Min (Mil) | $ Max (Mil) | |
| Financing | 20 | 1,566 | 2,555 | 20 | 2,482 | 4,260 | 40 | 4,048 | 6,815 |
| Project Financing | 13 | 855 | 1,390 | 1 | 750 | 1,000 | 14 | 1,605 | 2,390 |
| Total | 33 | 2,421 | 3,945 | 21 | 3,232 | 5,260 | 54 | 5,653 | 9,205 |
Canadian pension funds, PE firms and PE baked firms
The following are the pension funds, private equity firms and PE backed firms received EDC funding in the first seven months.
Alberta Investment Management Corporation
British Columbia Investment Management Corporation
Canada Pension Plan Investment Board
Caisse de Dépôt et Placement du Québec
OMERS Infrastructure Management Inc.
Ontario Teachers’ Pension Plan Board
OPSEU Pension Plan Trust Fund
Public Sector Pension Investment Board
Brookfield Corporation
Brookfield Business Partners L.P.
Brookfield Infrastructure Partners L.P.
Brookfield Renewable Partners L.P.
Fairfax Financial Holdings Limited
Fiera Infrastructure Inc.
Killick Capital Inc.
ONCAP Management Partners L.P.
Nuvei Corporation
Garda World Security Corporation
Transparency and disclosure
Though with unknown extent and limited disclosure, EDC should be applauded in “proactively” releasing its financing information.
BDC, another crown corporation, has been providing little of its financing information, using Section 37 of the Business Development Bank of Canada Act as shield.
photo credit: EDC