Canada’s Largest Pension Fund Stops Exploring Crypto Investment: Reuters

Having managed to sidestep the crypto investments that burned two other major Canadian pension funds, CPP Investment (CPPI) is no longer pursuing opportunities in that sector, reports Reuters.

Though declining to comment on the specific reasons, CPPI pointed to summer comments from its CEO John Graham: “You want to really think about what the underlying intrinsic value is of some of these assets and build your portfolio accordingly … So I'd say crypto is something we continue to look at and try to understand, but we just haven't really invested in it."

In doing so, CPPI – which has $388 billion in assets under management (AUM) – managed to avoid losses suffered by pension fund peers Ontario Teachers’ ($250 billion AUM), which had to fully write off its $95 million investment in crypto exchange FTX, and Caisse de Depot et Placement du Quebec ($300 billion AUM), which fully wrote down its $150 million investment in crypto lender Celsius Network.

CPPI hasn’t returned a CoinDesk request for comment for this article.