The Caisse de dépôt et placement du Québec is adding to its science-research portfolio.
The pension fund made an AU$32-million investment in Melbourne’s Centre for AgriBioscience under an agreement with Plenary Group, one of Australia’s infrastructure leaders.
“This investment in a social-infrastructure project enables us to increase our presence in Australia, a market presenting great business opportunities,” said Macky Tall, senior vice-president, infrastructure, with the Caisse. “Because these projects are carried out under 15-, 20- or even 30-year agreements, they enable us to generate stable, predictable returns for our depositors over the long term.”
The Centre for AgriBioscience is a joint venture between the State Government of Victoria and La Trobe University. It includes research laboratories, greenhouses and offices that will be used by more than 400 researchers.
This is just one of several projects that the Caisse and Plenary have invested together in. In 2012, the Caisse and Plenary invested in a cancer research centre, a hospital, court facilities and the Melbourne Convention and Exhibition Centre.