CAAT Pension Plan

CAAT Pension Plan

CAAT Pension Plan launched in 1967 to provide retirement security to Ontario's college system employees. The firm has since grown into one of Canada's largest defined benefit plans, serving more than 800 employers from 20 industries through its modern DBplus product. That design gives plan sponsors predictable costs while granting members a lifetime income stream — a structure that has attracted employers far beyond the education sector. The investment engine spans direct real estate, infrastructure, private equity, venture capital, private credit, commodities, and farmland. The portfolio holds Carlyle Property Investors, Greystone Real Estate Fund, and 100 University Avenue in downtown Toronto, alongside an Industrial and Multi-residential Portfolio across Canada. On the infrastructure side, CAAT owns Pattern Energy wind assets in Ontario and New Mexico, participates in energy transition projects, and backs farmland through a dedicated Canadian vehicle and a North American Greenhouse Fund. The plan also pursues co-investments, secondaries, and special situations, giving it flexibility to act as both a limited partner and a direct investor. CAAT's 2025 valuation reported the plan at 124% funded with CAD 6.7 billion in reserves. Former CEO Derek Dobson stepped down in March 2026, leaving Kevin Fahey as acting CEO while retaining his CIO role, alongside COO Jillian Kennedy and Chief Pension Officer Evan Howard. The plan is a signatory to the UN-supported Principles for Responsible Investment and maintains active memberships with ILPA, PIAC, the Canadian Coalition for Good Governance, and the Responsible Investment Association. In 2025, CAAT launched the GROWTHplus Investment Account, letting members transfer existing registered savings into the plan to capture CAAT's investment returns. Structural governance separates CAAT from many peers. Two sponsors — the Ontario Public Service Employees Union and the College Employer Council — jointly govern the plan, creating a labor-management partnership that embeds member interests directly into the boardroom. That governance model, combined with a multi-asset, direct-investment strategy and an open-architecture employer base, makes CAAT function more like a hybrid pension fund and institutional asset manager than a single-sponsor retirement plan.