CPP Infra Thoughts
Anyone do the CPP Associate infra interview process? Any thoughts on the team in Toronto in terms of culture/ comp / deals
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Based on the most helpful WSO content, CPP (Canada Pension Plan Investment Board) is highly regarded, especially in its private equity and infrastructure teams. Here's what you should know:
Compensation: For the PE group at the Analyst level (out of undergrad), CPP pays around $120-140K CAD. For associates, compensation can range higher, with bonuses typically in the 30-50% range. This aligns with the competitive pay structure of top Canadian pension funds.
Culture: Canadian pension funds, including CPP, are known for their excellent culture and work-life balance. They are often praised for fostering a collaborative environment and offering exposure to stimulating work.
Deals: CPP's infrastructure team is involved in significant, high-profile deals, given their global investment mandate and focus on long-term, stable returns. This provides associates with exposure to large-scale, impactful projects.
If you're preparing for the interview, expect a mix of technical and behavioral questions, as well as potential case studies related to infrastructure investments.
Sources: What is Canada comp like?, Interviewing For Infrastructure Investment Roles, Ask me anything - MM PE Associate, 1 year in, Q&A - Infrastructure PE & IBD, Q&A - Infrastructure PE & IBD
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A few of my college friends work at CPP - here are their thoughts:
Infra and energy are by far the best groups in the fund.
Most of the people on the team are nice. The seniors are pretty supportive of career development, but infra as an asset class tends to be pretty grindy so expect to work long hours. They're really good about respecting weekends/vacations when not on live processes. They also have a pretty high bar on performance & technical ability which drives junior level churn. I've heard Toronto specifically is really good at junior development and mentoring though fwiw.
They've done some big deals recently (Allete take-private and some data center thing) but not sure how they balance direct deals and co-investments nowadays. They look to write big equity tickets of >$1bn+ with lean deal teams so definitely a cool experience nonetheless. They're also trying to move away from traditional infrastructure to more value-add infrastructure/industrials-type businesses
Exits have been to other large infrastructure GPs (Brookfield/GIP), business school (HBS and GSB), or big tech companies.
I've heard they've had a good amount of senior churn recently but not sure why. Outside of Altas, it's probably the best associate seat you can get in Toronto for balancing learning, exposure, comp, exit opps, and WLB.
pretty sweaty vs other canadian pension funds
Del
Any insight on PSP? How does their infra / energy groups compare with CPP?
how is bci's infra program? looking to recruit there
can anyone give an estimate of brookfield's hours when there are live deals and when there isnt?
Any insight into the infra team based in NYC?
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