Investment Management
The TTCPP investment portfolio is managed based on a set of guidelines called the Statement of Investment Policies and Procedures, which is reviewed by the Board every year. This policy helps ensure that the Plan’s money is invested responsibly, with the goal of meeting our pension promises while keeping risk at an acceptable level. To do this, we take a long-term, sustainable approach, spreading investments across a wide mix of asset types, each with different levels of risk, return and accessibility.
The chart below illustrates our target asset mix:
For details on the Plan’s performance, see our Financial Highlights.
Recent investment highlights
Dec 31, 2024
Nuvei
Nuvei is a leading Canadian financial technology company specializing in advanced payment solutions that empower businesses worldwide to securely and seamlessly process transactions. With an extensive global reach, Nuvei continues to innovate in digital commerce, enhancing the efficiency and accessibility of payment infrastructures for merchants and consumers alike. In this transaction, Novacap supported Nuvei’s expansion as a key private equity partner, realizing a portion of its investment while retaining a minority stake. This approach reflects a continued commitment to Nuvei’s growth and long-term strategic vision.
Partner: Novacap
Investment Date: November 2024
Locations: Global, with headquarters in Montreal, Canada
Website: nuvei.com
Millum
Millum is a Norwegian purchasing software provider primarily serving the hospitality sector. In January 2024, Main Capital Partners, through Main Foundation I, invested to accelerate Millum’s international expansion by leveraging its existing customer base and pursuing a land-and-expand strategy. Main Capital also advises on operational best practices, organizational scalability, and further M&A prospects to position Millum as a leading procurement platform across multiple regions.
Partner: Main Capital
Investment Date: January 2024
Location: Norway
Website: millum.no
Project Beckett
Project Beckett is a recapitalization of a hyperscale focused data center development platform in Europe. Investment is structured with downside protection and comprises mezzanine debt and equity with preferential liquidity rights. The funding will support the current and future development of hyperscale data centers in Europe. Significantly de-risked business plan generating value-add / opportunistic returns through pre-leased construction of four facilities on existing campus sites in one of Europe’s core data center markets.
Partner: StepStone Real Estate
Investment Date: 2025
Website: stepstonegroup.com
QSL International
QSL is a leading North American bulk and breakbulk port terminal operator which provides stevedoring, cargo handling solutions, transportation and marine services. QSL handles a diverse mix of imported and exported commodities for blue-chip industrial customers as well as major shipping lines and trading firms. The company is headquartered in Québec.
Partner:
iCON Infrastructure
Investment Date:
June 2024
Website:
https://qsl.com/