Portland Holdings Enabling Canadian Technologies Globally

In November 2022, the rating agency Moody’s affirmed Canada’s AAA credit rating the highest quality with minimum risk due to the country’s high economic strength and very strong institutions and governance framework”. These ratings provide a high degree of resilience to shocks” in the economy an enviable achievement given the past years of global uncertainty. Other key drivers behind Canada’s world-beating rating are the high debt affordability and fiscal policy effectiveness, which have been the basis for the country’s post-COVID-19 recovery. Canada is the third-largest economy in the AAA credit rating category, after the United States and Germany, and its economy continues to grow, clocking up 4.5% real gross domestic product growth last year.

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Canada's robust economy supports and is supported by, a thriving financial sector. As the Bank of Canada has noted, the industry remained resilient throughout the COVID-19 pandemic. The asset management segment alone saw its assets grow from CAD 2.3 trillion in 2008 to CAD 7.1 trillion in 2021, with a 12.6% growth in 2021 alone.

For three and a half decades, Portland Holdings has been one of the leading entities in the sector, building a global portfolio, which it has now positioned to take to new heights with investments in clean energy and healthcare. In September 2022, Portland Holdings' subsidiary AIC Global Holdings Inc. signed a memorandum of understanding (MOU) with Canadian Nuclear Laboratories (CNL), one of the world's leading nuclear science and technology organisations. The MOU focuses on finding long-term solutions for the decarbonisation of economies around the world, and the use of radiopharmaceuticals to combat cancer. CNL is a world leader in developing peaceful and innovative applications from nuclear technology. Portland Holdings is a diversified, privately held investment company, with roots in asset management. Its founder, Chairman and CEO, Michael Lee-Chin, considered one of Canada's most successful businessmen, is confident that this MOU will pave the way to establish Canadian nuclear expertise worldwide, to drive the energy transition and decarbonization of the global economy.