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A proud history

We are proud of our legacy as a pioneer of a public pension model that has been emulated around the world. Since then, our milestone moments show a tradition of challenging the status quo and expanding our global footprint.

Canadian flag fluttering in wind

We led the birth of a uniquely Canadian pension model

In the 1980s, the Ontario government initiated intensive reforms to modernize the administration and investment of public pension plans. The result? Ontario Teachers’ was born with the opportunity to engage in a richer and more diversified approach to asset allocation.

Some key early decisions that led to our success include:

  • Establishing Ontario Teachers’ as an independent organization
  • Defining the sponsors’ roles through a sponsorship agreement between teachers’ unions and the government
  • Appointing a respected former governor of the Bank of Canada, Gerald Bouey, as the founding chair
  • Appointing an actuary and insurance executive, Claude Lamoureux, who initiated several reforms to run the organization like a business
  • Hiring an experienced executive team who invested plan assets in public equities and modernized the plan’s administration and member services.

A conversation with past and present leaders

The journey of the fund reflects calculated risks, bold investments, culture-defining moments, and successful leadership strategies that have allowed Ontario Teachers’ to deliver outstanding service and retirement security for hundreds of thousands of Ontario teachers for more than three decades.  

We sat down with leaders past and present to tell the plan’s story in their own words, from its inception through to the present day.

A history of trailblazing

1990

  • Ontario Teachers’ Pension Plan Board is established on January 1 with net assets of $20 billion primarily in the form of non-marketable bonds, marking the beginning of a newly independent pension plan for Ontario educators.
  • Initiate use of derivatives to diversify the portfolio into equities.

1991

  • Begin investing directly in private equity and real estate, early moves that set the stage for Teachers’ as an innovative investor in private markets.

1994

  • Acquire 49% of Maple Leaf Gardens Ltd., the parent company of the Toronto Maple Leafs hockey team.

1997

  • Net assets surpass $50 billion, reflecting the build out of a broader portfolio.

1999

  • Add commodity exposure to the portfolio for the first time, providing a hedge against inflation.

2000

  • Acquire The Cadillac Fairview Corp. Ltd., one of North America’s premier commercial real estate companies.

2002

  • Make our first infrastructure investments, acquiring stakes in Sydney Airport and an electricity transmission network in Alberta. 
  • Co-found the Canadian Coalition for Good Governance to help strengthen governance practices at Canadian public companies and promote investor stewardship.
  • Launch web services for members with buybacks as main service.

2003

  • Expand digital services by launching an online pension calculator, introducing email communications for plan updates, and providing members online access to benefit statements and educational presentations.

2006

  • Net assets surpass $100 billion.

2007

  • Open our first international office in London, expanding our global reach.

2008

  • Introduce Conditional Inflation Protection to support intergenerational equity and long-term plan sustainability.

2011

  • Exchange our stake in our first airport investment for interests in airports in Brussels and Copenhagen.

2012

  • Sell our ownership in Maple Leaf Sports & Entertainment, concluding a long-standing, successful investment.

2013

  • Establish an internal Natural Resources team, to centralize oversight of our timberland and other resource investments.

2014

  • Net assets surpass $150 billion.

2018

  • Establish our Total Fund Management investment department, to coordinate top-down investing activities by bringing together portfolio construction, treasury, and funding.

2019

  • Launch Teachers’ Innovation Platform (later renamed Teachers’ Venture Growth) to invest in late-stage, innovative companies.

2020

  • Net assets surpass $200 billion.

2023

  • Announced establishment of an in-house real estate asset class group, integrating global investment teams from Cadillac Fairview, effective in 2024.

2024

  • Net assets surpass $250 billion.

2025

  • Establish the Portfolio Solutions Group, to enhance value creation capabilities.   
  • Sell our airport portfolio, concluding more than 20 years of successful ownership.
  • Launch our first Indigenous Action Plan to guide long term commitments to Indigenous inclusion and reconciliation at Ontario Teachers’.
A capital market screen

Today

Today, we are in a position of strength having delivered long-term success and are prepared to adapt to longer-term themes shaping a changing and complex world.

Ontario Teachers’ invests  globally in fixed income, public and private equity markets, real estate, infrastructure, natural resources, credit, and venture capital through the Teachers’ Venture Growth (TVG).

Learn more about our investing strategy