Event Brings Global Finance to Toronto
Toronto is preparing for a major economic showcase in mid-September. While the city will be in the spotlight for its world-renowned film festival, it will also host a high-profile investment summit drawing some of the most influential figures in global finance. The event, spearheaded by Prime Minister Mark Carney, has attracted names like Larry Fink from BlackRock Inc., Jon Gray of Blackstone Inc., and Barclays Plc's CEO, CS Venkatakrishnan. These executives are joining the summit, which is organized with support from Canada’s two largest pension funds. Representatives from major state-owned funds, including Saudi Arabia’s Public Investment Fund and Temasek Holdings CEO Dilhan Pillay, have also accepted invitations.
The summit is scheduled for Sept. 14 and 15 at a luxurious hotel in Toronto, coinciding with the Toronto International Film Festival. Movie stars and industry leaders will grace the festival stage, but just a short distance away, over 100 leaders from major investment firms, companies, and government bodies will come together. The agenda will cover key issues like energy security, defense spending, infrastructure projects, and artificial intelligence. The focus is not only on discussion but also on generating tangible investment opportunities.
Economic Strategy Behind the Gathering
Prime Minister Carney is using the summit to position Canada as a premier destination for global capital. The country has seen a decade of sluggish private-sector investment, making it more susceptible to external economic pressures like U.S. tariffs. To address this, Carney aims to attract C$500 billion in private funding over the next five years. This investment will support major projects, including ports and pipelines, which are essential for increasing Canada’s exports to Asian and European markets.
In addition, the funding will be directed toward mining, technology, and other critical sectors to help diversify the economy. A comprehensive deal book is being prepared for summit attendees, which will include details on government-backed initiatives and opportunities from private and public projects. The Canada Pension Plan Investment Board and the Public Sector Pension Investment Board, which collectively manage more than C$1 trillion in public retirement funds, are playing a central role in organizing the event. Invest in Canada, a government agency, is helping with the logistics, and the government’s Major Projects Office is also involved.
Simultaneous Events and Networking
While the prime minister's summit is exclusive to invitees, it will take place alongside other major events in Toronto. The Milken Institute is planning its first Canadian summit during the same period, and the Canadian Venture Capital & Private Equity Association is also holding a conference on Sept. 14. This conference will highlight emerging Canadian companies and smaller investment opportunities under C$100 million.
Benjamin Bergen, CEO of the venture capital association, explained that the timing allows investment teams attending Carney's summit to also connect with promising Canadian startups and fund managers. The United Arab Emirates, which committed around $50 billion to Canada last year, is expected to send representatives from its sovereign wealth fund.
A range of attendees is expected, including over 100 foreign companies, the CEOs of Canada’s leading banks and asset managers, and provincial premiers. Government officials will also be in attendance to emphasize Canada’s stability and growth potential. The goal is to create a platform where investors can see firsthand the country’s economic opportunities and potential for long-term returns. The list of likely attendees includes Macquarie Group Ltd. chief executive Shemara Wikramanayake and infrastructure chief Karl Kuchel; Rachel Elwell, the chief executive of Border to Coast, the United Kingdom’s largest owner of pension assets; and Ardian SAS co-chief executive Mark Benedetti.
The prime minister’s office is actively encouraging attendees to announce investment commitments during the summit. With Toronto hosting both the film festival and multiple investment-related events, the city will be buzzing with activity. Movie screenings and celebrity-hosted dinners will offer attendees a unique mix of culture and business networking.
Prime Minister Carney has been directly involved in the planning process. He is working closely with CPPIB CEO John Graham and Canada’s ambassador to the U.S., Mark Wiseman, a former executive at both pension funds and BlackRock. The event is designed to be a recurring one, helping Canada establish itself as a global investment hub.
Other notable attendees include Macquarie Group Ltd. CEO Shemara Wikramanayake, Border to Coast CEO Rachel Elwell, and Ardian SAS co-CEO Mark Benedetti. These leaders represent a wide range of financial and investment sectors, adding to the event’s significance.
Through strategic planning and a focus on long-term growth, the summit aims to reshape Canada’s economic landscape and attract investment that will support its future. With major international names in attendance and a strong lineup of opportunities, the event is seen as a key step toward achieving Carney's economic vision.