Trudeau Government Eager for National Pension Funds to Invest in Canadian Airports

Kevin Rozario

London

September 28, 2024

mod London LCY BA CityFlyer 4

London City Airport has benefited from investments by several Canadian pension funds.

© London City Airport

Canadian pension funds are prominent investors in airports worldwide, and in transport infrastructure in general. They have carefully built up strong positions in countries such as Australia, the United Kingdom, as well as Denmark, and Belgium. Now there may be another market worth eyeing—their own.

In Canada’s federal budget in May, the government pushed forward with some ideas that could bring about more flexible infrastructure investment options at airports. The changes could herald a new era of privatization among Canadian gateways, and the country’s pension funds will likely be the first to take a closer look.

Their strong experience abroad makes them perfect candidates to invest, while also allaying fears from anti-privatization groups such as trade unions about state assets being sold off to foreign entities—and what that might mean for ordinary workers. If ownership can stay in Canadian hands, the transfer of wealth abroad would be limited, and the state can still exert influence.

Below, AirportIR looks at the government’s new stance, and Canadian pension funds’ appetites for their home airports. Will they will step up, or step back when it comes to their home market?

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