BMO, Sun Life, and Power Sustainable set out private capital plans as research puts the municipal gap at $240 billion
Three financial institutions and one municipal body set out Canadian infrastructure investment plans on September 10 and 11, covering electricity, pipelines, transportation, digital connectivity, critical minerals and agri-food.
The combined headline figures come to roughly $85bn in Canadian dollars, though the commitment periods differ: 10 years for one, five years for two others.
The largest is BMO Financial Group's plan to mobilize up to $70bn in new capital over 10 years for sectors it identifies as critical to Canadian economic security and resilience.
The Toronto-based bank listed electricity generation, transmission and distribution, pipelines, roads, airports and terminals, mining and critical minerals, AI computing, defence and security, and oil and gas.
"As Canada's first bank, BMO's story is Canada's story," said Darryl White, chief executive officer of BMO Financial Group, in the bank's September 11 release. "Building Canada has always depended on bold ideas backed by capital."
The capital is expected to take the form of bank financing, debt capital markets activity and public equity raises, rather than balance-sheet investment alone.
Sun Life Financial Inc., also of Toronto, announced the same morning a Commitment to Canadian Infrastructure Initiative targeting $5bn over five years in digital technology, energy, and transportation and logistics.
Of that, $1.5bn is earmarked for Canadian infrastructure equity overseen by SLC Management and managed by InfraRed Capital Partners.
That portion carries a condition advisors should note: Sun Life stated the equity deployment relies on amendments to the Insurance Companies Act that would permit insurers to make equity investments in infrastructure.
Kevin Strain, president and chief executive officer of Sun Life, framed the commitment around competitiveness, saying it "underscores our belief that a stronger, more competitive Canada benefits everyone."
Power Sustainable, the Montréal-based alternative asset manager owned by Power Corporation of Canada, announced on September 10, a plan to invest and mobilize more than $10bn into Canadian projects and companies over five years.
The figure is not pure fund capital.
Power Sustainable stated it comprises capital deployed through its strategies, co-investment capital alongside them, and debt and other third-party financing expected to support the underlying assets.
The firm runs four strategies: energy infrastructure equity through Potentia Renewables, infrastructure credit, clean energy and industrials private equity, and agri-food private equity through Power Sustainable Lios.
"Canada represents one of the most compelling investment opportunities in the world today, and we believe this is a moment for private capital to act," said Bruce Heyman, chief executive officer of Power Sustainable.
Chairman Olivier Desmarais pointed to the country's ability to draw foreign money, saying Canada "has the resources, talent and institutional strength to attract long-term capital at global scale."
Power Sustainable issued its release ahead of the federal government's inaugural Canada Investment Summit in Toronto.
Boston Consulting Group research showed private infrastructure fundraising concentrating in the largest global funds, with nearly three-quarters of 2025 capital flowing to the 50 biggest vehicles.
Research released by the Federation of Canadian Municipalities in Ottawa on September 10, developed with PSD CityWide Inc., puts a return figure on local spending.
Each dollar spent on municipal infrastructure generates about $1.05 in GDP and more than $2 in overall economic activity, according to the FCM findings, with seven jobs created per $1m invested.
A sustained 10-year local investment strategy could permanently raise national economic output by roughly $17bn a year.
Against that, FCM put the municipal infrastructure deficit at approximately $240bn.
"At a time when Canada is focused on economic growth, municipal infrastructure is one of the smartest investments governments can make," FCM president Tim Tierney said in the release, calling it "an economic strategy, not simply an infrastructure strategy."
The organisation's Budget 2026 recommendations urge Ottawa to accelerate funding through the Build Communities Strong Fund and to target rural, northern and climate adaptation renewal.
Separate figures in the 2025-2026 Green Municipal Fund annual report show GMF-funded projects have contributed $5.6bn to GDP and created close to 60,000 person-years of employment since 2000.
Canadian accredited investors gained an evergreen option when Partners Group opened its Next Generation Infrastructure Fund at a $25,000 minimum, and Russell Investments Canada Limited launched a vehicle with iCapital Network Canada Ltd. that brought private global infrastructure to accredited Canadians.
