Intern, Investments – Private Markets – Summer 2027 (May-August)

We’re one of Canada’s largest pension investors, with CAD$320.6 billion of net assets as of March 31, 2026.

We invest funds for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. 

Capturing and leading complex global investments requires us to work as one to seize valuable opportunities, in close collaboration with some of the world’s top companies. At PSP Investments, you’ll join a team of motivated and engaged professionals, dedicated to propelling our organization further than ever before.

This unified internship posting allows you to apply once while indicating your preference for one of four investment teams: Infrastructure, Natural Resources, Private Equity, Real Estate or Credit Investments. You will be integrated into your preferred team (based on fit and business needs) and actively participate in analyzing, executing, and managing investments in private assets globally.  

Depending on the investment team you join, your responsibilities may include: 

Infrastructure Investments 

• Conduct preliminary analysis of investment opportunities and assess investment theses including key merits and risks  

• Build detailed financial models (DCF valuation), determine and substantiate key valuation assumptions, conduct sensitivity analyses 

• Research relevant public information on comparable companies and precedent transactions  

• Participate in key due diligence activities and coordinate work performed by third-party advisors  

• Prepare investment memorandums and present recommendations to the Infrastructure Investment Committee 

Natural Resources Investments 

• Support investment team members in analyzing potential private equity transactions in agriculture, timber, and animal protein assets  

• Participate in active management of the Natural Resources group's current investment portfolio  

• Support due diligence processes for new investment opportunities  

• Develop and validate financial models related to investments  

• Conduct industry research on new investment opportunities in forestry and agriculture sectors  

• Assist in drafting investment recommendations and strategic presentations  

Private Equity 

• Assist deal teams on execution of transactions, including co-investments in companies and external fund commitments  

• Participate in relationship and portfolio management exercises, supporting coverage teams with holistic asset management activities  

• Perform investment due diligence, including industry and company-specific research using primary and secondary sources 

• Assist in the preparation of investment committee materials  

• Perform financial, valuation, and returns analysis on new opportunities  

Real Estate Investments 

• Support analysts in active management of PSP's real estate portfolio across the Americas 

• Analyze potential real estate transactions (financial modeling, economic feasibility) across various asset classes and structures (residential, office, industrial, retail, joint ventures, funds)  

• Participate in due diligence processes for real estate acquisitions and dispositions  

• Contribute to asset management decisions related to financing, hedging contracts, leasing, capital expenditures, and redevelopments  

• Research, synthesize, and analyze data on various real estate markets  

• Collect information and update the real estate investment team's database  

Credit Investments

• Provide support to the investment teams during all phases of the credit investments process.

• Assist with investment screening (preparation and presentation), financial modelling and accounting analysis, industry and sector analysis (qualitative and quantitative), transaction due diligence

• Be given the opportunity to participate in the investment decision process, assist in drafting and / or reviewing legal documentation, prepare investment recommendation memos and contribute to post-investment portfolio monitoring

• Complete an end of internship project consisting of an investment recommendation memo that will be presented to our team’s investment committee

Education

• Currently enrolled in a Bachelor of Commerce (Finance, Accounting), Master's in finance or accounting, MBA, or degrees in Economics, Engineering, Mathematics with strong academic standing  

• High academic achievement required 

Technical Skills

• Excellent financial and analytical skills  

• High proficiency in Excel and financial modeling  

Professional Attributes

• Mature, driven, motivated with ability to take initiative  

• Responsible, diligent, and able to work independently or as part of a team  

• Strong communication and presentation skills (written and verbal)  

• Good attention to detail and rigorous approach to research, analysis, and documentation 

• Eagerness to learn, ideate, and innovate 

Language Requirements

• Good communication skills in French and English (or willingness to learn)  

• Other languages are considered an asset (Spanish, Portuguese...). 

• Regular interactions in English with investment partners based outside of Quebec (peers, bankers, brokerage firms, PSP employees in Hong Kong, London, and New York offices) and interactions in French with employees in Montreal and Ottawa offices  

Eligibility

• Must return to studies after the internship or the internship must be part of your curriculum  

• Candidates must have the right to work in Canada* for the period specified 

*Options include Canadian citizenship, permanent residency, or a valid open work permit 

At PSP Investments, we aim to provide a workplace where everyone feels valued, safe, respected and empowered to grow. As part of this leadership commitment, we strongly encourage applications from all qualified applicants and strive to offer an inclusive and accessible candidate experience. If you require any accommodation for any part of the recruitment process, please let us know.

To apply, please upload your resume, cover letter and most recent unofficial transcript.

Deadline to apply:

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