Caisse de dépôt et de gestion
| Investment fund | |
| Industry | Pension fund |
| Founded | 1959 |
| Headquarters | B.P. 408 - Rabat, Avenue Moulay Hassan, Rabat, Morocco |
|
Key people
|
Anas Houir Alami |
| Total assets | Deposits MAD70 billion (2012) |
| Total equity | MAD15.03 billion |
| Website | www.cdg.ma |
The Caisse de dépot et de gestion (French for Deposit and Management Fund, shortened as CDG) is a state-owned financial institution which manages long-term savings in Morocco. Given its substantial assets it also acts as a large investor in the country, especially in the tourism sector. It possesses many subsidiaries operating in various sectors of the Economy.
The CDG handles in particular the savings of the RCAR (Régime Collectif d'Allocations de Retraite) and the CNRA (Caisse Nationale de Retraites et d'Assurances) pension funds which groups the retirement contributions of the employees of state-owned companies and agencies. Between 2005 and 2008, CDG gained substantially in funds when it acquired the management of the retirement savings of the OCP, the world's leading phosphate producer and exporter. CDG is modelled after the French fund Caisse des dépôts et consignations.
The fund was created in 1959 by Mamoun Tahiri, it holds about 35% of public savings in Morocco.
Starting in June 2006 CDG acquired, ia its subsidiary Fipar International, 10% of Club Med and 5% of TUI for an estimated MAD3.7 billion. It additionally spent some MAD2 billion as part of development and renovation projects for Club Med's portfolio. In 2010, 2012 and 2013 saw the CDG gradually cede its stocks in Cub Med which have been dwindling since 2006 and finally sold at €17.5 in 2013, they have initially acquired for €44.9/share.
As of November 2013 the subsidiaries of CDG were:
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