Canada to Establish First Sovereign Wealth Fund with Initial Size of CAD 25 Billion

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On April 28, Canadian Prime Minister Carney announced to reporters that Canada will establish a sovereign wealth fund with an initial size of CAD 25 billion (USD 18.38 billion) to invest in major domestic projects. This fund will be Canada’s first sovereign wealth fund, announced just a day before the release of the Canadian fiscal report. “A sovereign wealth fund is essentially a country’s savings and investment account, aimed at accumulating wealth for future generations,” Carney stated. He added that the Canada Strong Fund will collaborate with the private sector to invest in significant projects across the country using a commercial model, and will expand its size through asset turnover and reinvestment.

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