PSP Investments Buys 50% of Enercare for $1.6B

The Public Sector Pension Investment Board agreed to acquire a half interest in the Canadian home infrastructure provider from Brookfield and its institutional partners.

Updated on Nov. 9, 2026 in Business Strategy

Bold flat-color editorial illustration of a stainless-steel water heater beside stacked metallic discs on a pale plinth, centered in generous negative space. — Public Sector Pension Investment Board agreed Tuesday to buy a 50% stake in Canadian home-services provider Enercare Inc. from Brookfield and its partners for $1.6 billion. AI Illustration. Upload story photo >

PSP Investments, the Public Sector Pension Investment Board, agreed to acquire a 50% interest in Enercare Inc. for $1.6 billion from Brookfield and its institutional partners. Enercare is a Canadian provider of essential home infrastructure that serves more than 1.4 million Canadian homes.

Why it matters

The deal brings a major institutional investor into a company whose services reach a large share of Canadian households. PSP Investments will partner with Brookfield to support Enercare's continued success, keeping the existing ownership structure in place.

The $1.6 billion price covers a 50% stake that serves more than 1.4 million Canadian homes, while PSP Investments' Canadian portfolio currently exceeds $75 billion. The source does not say when the deal will close or whether any regulatory approvals are still pending.

The players

PSP Investments

The Public Sector Pension Investment Board is a Canadian pension investment manager that invests on behalf of federal public sector pension plans.

Enercare Inc.

Enercare is a Canadian provider of essential home infrastructure services, serving more than 1.4 million homes across the country.

Brookfield

Brookfield is a global alternative asset manager headquartered in Toronto, and it is the seller in this transaction alongside its institutional partners.

The details

PSP Investments signed an agreement to acquire the 50% interest in Enercare from Brookfield and its institutional partners, and the parties will continue to work together after the transaction. The announcement was dated from Montreal, where PSP Investments is based.

November 9, 2026: PSP Investments announced the signing of the Enercare acquisition agreement.
Coming years: PSP Investments' Canadian portfolio is expected to exceed $100 billion.

Market Landscape

Canadian pension funds have increasingly moved into direct ownership of infrastructure assets rather than relying only on public markets. PSP Investments' purchase of a half stake in Enercare fits that trend, adding a recurring home-services business to a portfolio the fund expects to pass $100 billion in Canada.

Enercare customers across Canada are unlikely to see immediate changes, since the source states the partnership is intended to support the company's continued success. Households that rely on Enercare's home infrastructure services should watch for any future changes to service terms or pricing as the new ownership arrangement takes effect.

The takeaway

Large institutional investors are increasingly buying stakes in essential home-services businesses rather than only financial assets. Readers with exposure to these services should note that ownership changes of this kind often shape long-term pricing and service decisions.