"Deals are everywhere," she said. "Our fund is at the size where we have to chase some around the world. The Canadian market simply isn't big enough for our investment appetite."

"We will be relocating part of the team that deals with international investments," he said. "We expect the office to have about 14 or 15 investment professionals."

Earlier Wednesday, the CPP Investment Board's CEO David Denison said the move "reflects our strategy to diversify the portfolio globally, underscoring our continuing belief that there are compelling investment opportunities in the U.K. and Europe that align with our long-term investment horizon."