Canada Pension Plan Investment Board
The Canada Pension Plan Investment Board invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. It invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in New York, San Paulo, London and Hong Kong, it is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At 31 December 2013, the CPP Fund totalled C$201.5 billion.