Briefing

CPP Investments CEO Mark Machin suggests government sell public assets

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Machin said governments around the world should consider selling public infrastructure holdings like airports, toll roads and utilities to help refill their coffers, as deficits skyrocket during the pandemic. (The Globe and Mail)

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Talking point: Machin told The Globe the pension fund—one of the world’s biggest private-asset investors—has an interest in seeing more government assets enter the market. “We’d be delighted to compete [to buy them],” he said. The Canada Pension Plan Investment Board reported $37 billion in global infrastructure assets and $60 billion in real estate and energy assets as of September 30. Ottawa’s deficit is on track to reach $328.5 billion for the year, up from $28.1-billion projected before the pandemic. In 2018 my colleague Zane reported that Ottawa had studied the option of privatizing some two-dozen such assets, estimating it could generate about $200 billion.