Caisse de dépôt et placement du Québec
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| Crown corporation | |
| Industry | Institutional investor |
| Founded | July 15, 1965 |
| Headquarters | 65, rue Sainte-Anne Quebec City, Quebec, Canada (Main business office located in Montréal) |
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Key people
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Michael Sabia, CEO |
| Total assets |
 $254.9 billion CAD (30 June 2016) |
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Number of employees
|
864 (at December 31, 2014) |
| Website | www.cdpq.com |
Caisse de dépôt et placement du Québec (CDPQ) (lit. Quebec Deposit and Investment Fund, also referred to in English-language media as the Caisse) is an institutional investor that manages several public and parapublic pension plans and insurance programs in Quebec. It was founded in 1965 by an act of the National Assembly under the government of Jean Lesage. It is the second largest pension fund in Canada, after the Canada Pension Plan (CPP). As of June 30, 2016, CDPQ managed net assets of $254.9 billion CAD invested in Canada and elsewhere. CDPQ is headquartered in Quebec City in the Price building and has its main business office in Montreal at Édifice Jacques-Parizeau.
The Caisse de dépôt et placement du Québec was established on July 15, 1965 by an Act of Québec’s National Assembly to manage the funds of the Quebec Pension Plan, a public pension plan also created by the Québec government. In the years following, CDPQ was entrusted with managing the funds of other public pension and insurance plans: the Supplemental Pension Plan for Employees of the Québec Construction Industry (1970), the Government and Public Employees Retirement Plan (RREGOP) (1973), the Pension Plan of Management Personnel (PPMP) (1973) and the Fonds de la santé et de la sécurité du travail (1973).
CDPQ initially focused on bonds before entering the Canadian stock market in 1967. It then created its private equity portfolio (1971), investing in Québec companies. Since 1974, it has been managing the largest Canadian equity portfolio in the country.
Between 1975 and 1984, CDPQ adopted new investment guidelines, placing greater emphasis on equity and entering the real estate market. It acquired its first office building and its first shares listed on foreign exchanges (1983). In 1984, it made its first foreign private equity investment. In 1978, another government body, the Fonds d’assurance automobile du Québec, entrusted the Caisse with the management of its funds.
In 1989, CDPQ acquired Ivanhoe Inc., the real estate arm Steinberg’s grocery store chain, consisting mainly of shopping centres, and diversified its real estate portfolio with investments abroad. In 1994, the Caisse began to manage the funds of another government institution, namely, the Retirement Plans Sinking Fund. Total assets under management reached $28 billion CAD in 1986.
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Wikipedia