Liberals plan to grow sovereign wealth fund by recycling money from airports, other federal assets
The Canadian government is planning to grow its new sovereign wealth fund by monetizing federal assets, including airports. Prime Minister Mark Carney announced a $25-billion fund aimed at investing in national projects and companies. The government is exploring options for privatizing airports and other assets to generate additional capital for the fund.
- ▪The new sovereign wealth fund, named the Canada Strong Fund, will focus on investing in Canadian companies and infrastructure projects.
- ▪Ottawa is considering ways to monetize federal assets, such as airports, to increase the fund's capital.
- ▪The government plans to allow Canadians to invest in the fund and is looking at alternative ownership models for airports.
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Open this photo in gallery:Finance Minister François-Philippe Champagne delivered the spring economic update on Tuesday. The Liberals' new sovereign wealth fund will take equity stakes in Canadian companies and projects.Sean Kilpatrick/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountOttawa is looking at ways to monetize federal assets, including airports, to grow its new sovereign wealth fund alongside getting buy-in from retail investors.On Monday, Prime Minister Mark Carney announced a new $25-billion fund, which will focus on investing in companies and infrastructure projects that are part of the government’s major projects agenda.
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