La Caisse 
La Caisse impressed judges as a genuinely global-scale digital infrastructure investor, with the strongest and longest-dated performance evidence in the cohort. The manager runs C$74.5bn of infrastructure across 19 countries, delivering 9.2% in 2025 and a 10.8% annualised five-year return.

Five transactions in 18 months, spanning four different financial structures, from NEXTDC's hybrid securities to the first-of-kind Canadian tower deal Terrion, demonstrated genuine range in matching capital structure to asset maturity.

Judges liked how each deal was explained individually and as part of a coherent whole, backed by a structured risk framework covering technology, cybersecurity, regulation and power availability.

Partnerships with Ontario Teachers' Pension Plan, DigitalBridge, TELUS and KKR extended reach across five markets. AI exposure via the 450MW hyperscale Yondr platform added a further layer of relevance to the entry. Overall, judges saw a thorough, thoughtful articulation of the full scope of La Caisse's investment approach, with external ranking validation and an impressive scale of team reinforcing the case.