- Caisse de dépôt et placement du Québec, the province’s most prominent pension manager, has invested C$600 million with Fiera Capital (TSX:FSZ), a leading Quebec asset management firm
- The allocation is part of CDPQ’s ambition, announced in 2023, to more than double its allocation to Quebec asset managers to C$8 billion by 2028
- Fiera Capital, assets under management C$165.2 billion, delivers customized and multi-asset solutions across public and private markets to clients in North America, Europe and Asia
- Fiera Capital stock has added 25.38 per cent year-over-year, but has given back 25.79 per cent since 2019
Caisse de dépôt et placement du Québec (CDPQ), the province’s most prominent pension manager, has invested C$600 million with Fiera Capital (TSX:FSZ), a leading Quebec asset management firm.
Fiera will invest the capital in international expansion through its active and strategic fixed income and Fiera Atlas Global Companies strategies.
The allocation is part of CDPQ’s ambition, announced in 2023, to more than double its allocation to Quebec asset managers to C$8 billion by 2028. This pledge is in addition to the institution’s objective of reaching C$100 billion in Quebec-based investments by 2026.
Fiera’s capital infusion follows CDPQ’s investments in Quebec firms including Bastion Asset Management, Montrusco Bolton Investments and Van Berkom Global Asset Management, as well as widespread government and industry support for Canadian pension funds to increase domestic investments, foster innovation and bolster the country’s economic resilience.
Leadership insights
“Contributing to Quebec’s economic development is at the heart of CDPQ’s mission,” Vincent Delisle, executive vice president and head of liquid markets at CDPQ, said in a statement. “By entrusting C$600 million to Fiera Capital, a well-established and successful manager, we are benefiting from local financial expertise and supporting the growth of Quebec’s asset management industry, while also contributing to the diversification and performance of our portfolio.”
“CDPQ’s renewed trust in Fiera Capital, a pillar of Quebec finance, underscores our role as an investment leader,” added Maxime Ménard, president and chief executive officer of Fiera Capital Canada and Global Private Wealth. “Fiera Capital stands out for its ability to offer optimized portfolio solutions, combining innovation and precision in risk and return management. Our commitment to excellence allows us to meet the diverse needs of our clients.”
About CDPQ
CDPQ is one of the largest institutional investors in the world with more than C$434 billion in assets as of Dec. 31, 2023, spread across major financial markets, private equity, infrastructure, real estate and private debt.
About Fiera Capital
Fiera Capital, assets under management C$165.2 billion, delivers customized and multi-asset solutions across public and private markets to clients in North America, Europe and Asia.
Fiera Capital stock (TSX:FSZ) is down by 0.12 per cent trading at C$8.20 per share as of 9:53 am ET. The stock has added 25.38 per cent year-over-year, but has given back 25.79 per cent since 2019.
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(Top photo: Fiera Capital)