Canada Development Investment Corporation (CDEV)

Definition

Canada Development Investment Corporation (CDEV) is a federal corporation established to manage the Government of Canada’s investments in commercial assets. 

What is the Canada Development Investment Corporation?

Canada Development Investment Corporation functions as an agent of the government, focusing on commercial management of government holdings. Its primary role is to act in the best interests of the government and Canadian taxpayers by overseeing investments, maximizing asset value, and ensuring efficient management.

CDEV’s responsibilities include managing a diverse portfolio of government investments, which can range from energy sector assets to financial interests in various corporations. One of its important roles has been overseeing the government’s investment in Trans Mountain Corporation, which operates the Trans Mountain Pipeline. This involves ensuring the pipeline’s operation aligns with government policies and provides a return on investment.

Additionally, CDEV handles the orderly sale of government assets. When the government decides to privatize or divest certain holdings, CDEV manages the process to achieve the best possible outcome for taxpayers. This includes preparing assets for sale, conducting market assessments, and negotiating terms with potential buyers.

CDEV operates independently but reports to the Minister of Finance. It is governed by a board of directors appointed by the government, ensuring accountability and transparency in its operations. Financial and operational performance is regularly reviewed and reported to the public and the government.