Stephan Rupert Appointed CIO of Canada Growth Fund Investment Management

Stephan Rupert

Stephan Rupert has been appointed CIO of Canada Growth Fund Investment Management, a spokesperson for the firm told CIO. Rupert will be the inaugural CIO of CGFIM, which began making its first investments late last year.

CGFIM is a subsidiary of Canadian pension fund PSP Investments that manages the Canada Growth Fund, a C$15 billion ($10.94 billion) initiative to invest in Canadian businesses and technologies to accelerate the country’s path to net-zero.

The Canada Growth Fund was incorporated in December 2022 and made its first investment in October 2023, investing $90 million in Calgary-based geothermal energy company Eavor Technologies. In March, the fund made a C$50 million commitment to energy transition investment manager Idealist Capital.

In his role as CIO, Rupert will lead the fund’s portfolio construction strategy and investment execution activities, Rupert said in a post on LinkedIn. CGFIM has committed C$1.34 billion in investments so far, according to Rupert.

CGFIM focuses on investing in three key areas, projects that reduce emissions across the Canadian economy, including carbon capture storage and biofuels; clean technology companies; and low-carbon supply chains.

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Rupert has worked at PSP Investments for 11 years, most recently as a managing director, head of Americas, infrastructure investments at the fund. He was previously vice president of corporate development at RailAmerica Inc. and a manager, mergers and acquisitions, at CN Rail.

Rupert has a bachelor’s degree in civil engineering and a MBA in finance from McGill University. Rupert is also a CFA charterholder.