Canada’s largest pension fund manager is formalizing its growth equity division with a new team dedicated to the asset class. (The Logic)

Talking point: The growth equity group will find deals that sit somewhere between venture capital and buyouts, taking minority stakes in private firms and stewarding their growth. The fund manager already engages in growth equity deals, but dedicating a team to the asset class is a sign of CPP Investments’ priorities. The move comes as many venture capital investors anticipate a slowdown in funding, particularly for large, late-stage deals in private firms. In an interview with The Logic last week, CPP Investments CEO John Graham said the firm doesn’t plan to let up on venture and growth equity. “Where we’d really like to get to as an organization is to be a full lifecycle investor—being able to invest early in the life of a company, get to know them, learn about them, invest in their IPO and continue to grow as they grow in the public markets,” said Graham.