Betting on SpaceX Yields High Returns, Canada's Largest Pension Fund's Assets Grow to CAD 303.2 Billion in H1

Odaily News: The Ontario Teachers' Pension Plan (OTPP) announced that its investment return reached 9.5% in the first half of this year, driven primarily by gains from Elon Musk's SpaceX initial public offering (IPO).

In a statement, OTPP CEO Jo Taylor attributed the H1 performance growth to venture growth equity, public market equities, and inflation-resistant asset investments. By the end of the first half of the year, the fund's net assets had risen to CAD 303.2 billion (approximately USD 217.5 billion).

According to reports, the SpaceX IPO was a key factor driving OTPP's investment returns. As one of the world's largest aerospace companies, SpaceX has rapidly expanded through commercial launches and satellite internet services like Starlink in recent years, attracting long-term capital from pension funds, sovereign wealth funds, and major institutional investors.

OTPP is one of the world's largest institutional investors, with long-term investments in private equity, technology companies, and infrastructure assets. The valuation uplift from SpaceX's listing underscores the significant impact that unlisted tech unicorns and high-growth assets have on the returns of major pension funds. (Bloomberg)