* HOOPP invested 49% of funds in Canada, 29% in U.S. in

2025

* Awaits Ottawa's clarity on investment requirements for

megaprojects

* HOOPP is open to regulated infrastructure investments

aligning with 2030 climate goals

By Nivedita Balu

TORONTO, March 11 (Reuters) - Canadian pension fund

Healthcare of Ontario Pension Plan (HOOPP) is ready to invest

capital in Canadian infrastructure and other nation-building

projects outlined by Prime Minister Mark Carney several months

ago, but is waiting for Ottawa to propose a plan, the fund's

chief investment officer said in an interview.

HOOPP, which had net assets of C$131.9 billion ($97.07

billion) at the end of 2025, invested 49% of its funds in Canada

last year, marginally lower than the 50% in 2024, while

investments in the U.S. rose to 29% in 2025 from 27% due to

larger investments in the U.S. to expand its inflation-linked

bonds. The fund's returns grew 7.7%, boosted by a strong stock

market.

In Canada, Carney last year proposed megaprojects from pipelines

to infrastructure to mines, to boost the economy, which would

require large investments. Ottawa has yet to clarify the

specific projects or investment amounts needed.

"We have the capital available right now to make those

investments. We're just waiting for those opportunities to

manifest themselves," said HOOPP's CIO, Michael Wissell, on

Tuesday.

"Show me the investment, we need to see tangible investments

... some opportunities are starting to develop and we have seen

a few things more than we've seen in the past."

Canada's Major Projects Office did not immediately respond

to a request for comment.

Wissell said he was optimistic about the developments and

expects to see more pension funds open up as policymakers move

from "theoretical opportunities into tangible direct

opportunities."

Some of those investments could be in regulated

infrastructure such as power lines and Canadian pipelines, if in

line with the fund's 2030 climate goals, he said.

At a conference on Tuesday, Dave McKay, CEO of the country's

largest lender, Royal Bank of Canada ( RY ), said he expects to

see more money circulate at home as the Carney government is a

"complete, 180-degree pivot" from ten years ago to diversify

trade.

"Canada has been a net exporter (of capital). There is a

chance to index that a bit higher for Canadian infrastructure

and you'll probably see some of that money stay home."

($1 = 1.3588 Canadian dollars)