Toronto, January 23, 2026 – Canada Development Investment Corporation (CDEV) is pleased to announce the appointment of Aaron Engen and Candace MacGibbon to the Board of Directors of Canada Growth Fund Inc. (CGF).

A wholly-owned subsidiary of CDEV, CGF is a $15 billion independent and arm’s length fund designed to attract private capital to support the efficiency and competitiveness of Canada’s economy. The appointment of these two accomplished leaders with deep experience in finance, investments, relevant sector expertise, and strong corporate governance marks an important milestone for CGF.

Aaron Engen brings a distinguished combination of executive leadership, financial acumen, and deep sectoral expertise in energy infrastructure and transition, as the President and CEO of the Alberta Electric System Operator and a former investment banker for more than 20 years at BMO Capital Markets, including as Co-Head of the Energy Transition Group.

Candace MacGibbon is an experienced corporate director and former executive from the natural resources sector, with a passion for energy transition. She has served as the CEO of INV Metals Inc. and as a director on the boards of various public companies including Kinross Gold Corporation, TransAlta Corporation, and OR Royalties.

“I welcome Aaron Engen and Candace MacGibbon to the Board of CGF. They both offer a rare blend of governance capability, sector insight, and a clear commitment to energy transition, which will be invaluable to support the board oversight of this critical investment program,” said Corinne Boone, Board Chair of CGF.

“Across the CDEV Group of Companies, we take pride in our ability to attract exceptional talent to guide the governance and oversight of critical public assets. The appointments of Aaron Engen and Candace MacGibbon reflect this strength. Their leadership experience and sound judgment further enhance the board governance of this impactful fund for Canada,” said Dwight Ball, Board Chair of CDEV.

Quick Facts

• CGF engaged the services and expertise of PSP Investments in the implementation of the CGF mandate. As a result, PSP Investments incorporated Canada Growth Fund Investment Management Inc. (CGFIM) as its wholly owned subsidiary to act as the independent and exclusive investment manager of CGF and provide the full suite of investment management services to CGF.
• CGFIM executes in a selective and disciplined manner, preserving capital on a portfolio basis to allow reinvestment and a self-funded vehicle over time. It has committed over $4.9 billion through 18 transactions to important Canadian projects and technology companies on behalf of CGF.
• As the parent company of CGF, CDEV, through the CGF Board, ensures oversight and compliance, but is not directly involved in CGF’s investment activities. CDEV is also responsible for making appointments to the Board of Directors of CGF.
• CDEV used an external executive search firm for the Board appointments, which was the result of a robust and competitive search process. 
• These two appointments are effective as of January 8, 2026. 

For more information about CGF: www.cgf-fcc.ca