The Canada Pension Plan Investment Board (CPP Investments), the country’s quasi-sovereign fund, and the Public Sector Pension Investment Board (PSP) are among the top shareholders of the controversial security contractor, Palantir Technologies, after its recent IPO.
Palantir, a former Silicon Valley startup whose main revenue comes from cybersecurity contracts with government and spy agencies, went public by the end of September. It recently relocated to Denver, Colorado.
Often described as “opaque”, “secretive” and “controversial”, Palantir’s software reportedly played an instrumental role in the US National Security Agency spy scandal, exposed by whistleblower Edward Snowden. The firm’s name is derived from JRR Tolkien’s Lord of the Rings, in which a palantír is an all-seeing crystal ball.
Its IPO has also sparked controversy in governance terms, as investors who buy the stock will have virtually no voting power. Palantir has designed …