The Canada Pension Plan Investment Board ended its fiscal second quarter with $777.5 billion in assets, up nearly $46 billion from three months earlier. The fund reported a 10-year return of 8.8 per cent, with 70 per cent of its value generated from cumulative net income over its lifetime, rather than member contributions. (The Logic)

Talking point: Public equities drove the fund’s returns, as the AI boom and solid corporate earnings lifted markets. CEO John Graham noted, however, that prices for assets have reached “robust levels” and said the fund is staying disciplined to meet its mandate of paying pensions long into the future. The investor, which manages pension funds on behalf of 22 million Canadians, made bets on energy and digital infrastructure last quarter. It agreed to spend US$3 billion for 13 per cent of San Diego-based LNG and pipeline company Sempra Infrastructure Partners, and financed hyperscale data-centre projects in Ontario and Texas.