The Caisse de dépôt et placement du Québec is buying a 15 per cent stake in a subsidiary of Brazil-based renewable energy company ENGIE Brasil Energia.

The $848 million investment in Transportadora Associada de Gás S.A. increases the Caisse’s stake in the company to 50 per cent, according to a press release.

“Today’s announcement is consistent with our infrastructure strategy: in this instance, reinvesting in a portfolio company with well-contracted assets, led by a seasoned management team and in Brazil, a country where we intend to keep growing our portfolio in the next few years,” said Emmanuel Jaclot, executive vice–president and head of infrastructure at the Caisse, in the release.

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The Caisse is also partnering with Roynat Equity Partners to acquire a stake in Quebec-based bakery Boulangerie St-Méthode.

According to a press release, the bread producer intends to use the new investment to accelerate its growth by developing additional products and markets. Financial details of the transaction weren’t disclosed.

“The Caisse is proud to partner with Boulangerie St-Méthode, in order to support this prosperous company in the Quebec food sector in its succession process and its growth projects” said Kim Thomassin, executive vice-president and head of Quebec at the Caisse, in the release.

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