HOOPP CEO Calls for Strategic Investment in Canada’s Nation-Building Initiatives: A Step Towards Economic Growth
HOOPP CEO Sees Federal Projects as a Good Start, But More Work Is Needed
By Barbara Shecter | Published September 18, 2025
The federal government announced nation-building projects. HOOPP’s CEO, Annesley Wallace, spoke in Toronto and gave a cautious nod to the move. She sees these projects as a first step that can open up long-awaited investment options for big institutional investors.
Wallace stressed that Canada has rarely offered strong, nationally backed infrastructure chances that large pension funds or global investors find hard to ignore. She says the new projects are exciting. Yet she underlines that much work still lies ahead.
“Historically, we haven’t seen these kinds of opportunities with the national support we needed,” said Wallace. “So the recent news about the projects feels very promising.”
Pension funds naturally favor infrastructure investments because they tend to offer stable returns over long periods. Wallace added that Canada must design the projects with solid business models and the proper level of government help. Only then can the nation draw both local and global investment.
She mentioned, “There is a long way to go before we can move these projects forward. The new Major Projects Office may guide us through the next steps.” The office, launched on August 29, now works to speed up permits and join forces with provinces, territories, Indigenous groups, and private investors.
The first set of key projects, shared on September 11, includes a liquid natural gas facility in British Columbia and a nuclear power project in Ontario. These projects match the investment styles of large funds like HOOPP.
Wallace believes Canadian pension plans can boost the nation’s edge if they use strict investment rules. These rules ensure they can meet long-term pension promises. “We have funds at HOOPP that we would love to invest in Canada. This can power the economy and lift productivity,” she said. “Canada must show it is competitive to attract both local pension funds and global money.”
Wallace took charge of HOOPP in April 2025. Before that, she worked at TC Energy Corp and led infrastructure at OMERS. She also touched on global risks that affect pension investments. She noted that earlier trade tensions, especially under former President Donald Trump, complicated investment plans and raised economic worries. By late 2024, HOOPP had 27 percent of assets in U.S. markets.
She explained, “We have seen market links break and global alliances weaken. This has big economic and other effects.” To handle these changes, HOOPP now uses a clear total portfolio approach. This strategy helps the fund spot opportunities when the economy shifts.
“Looking at our whole fund sets us up for success no matter what happens,” she said. “Frequent economic cycles in the future could bring more opportunities if we are ready to act.”
As the government moves ahead with the Major Projects Office and speeds up key programs, the support from pension funds like HOOPP could help Canada reach its nation-building goals. This will work best if the projects balance clear commercial sense with effective public partnerships.
About HOOPP:
The Healthcare of Ontario Pension Plan is one of Canada’s largest pension funds. It provides retirement benefits for healthcare workers across Ontario. HOOPP is known for smart investment plans that include infrastructure, equities, and fixed income.
For more on Canada’s nation-building projects and the role of pension funds, stay tuned to Financial Post’s ongoing coverage.
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