The Caisse de dépôt et placement du Quebec is investing $600 million in Quebec-based asset management firm Fiera Capital.
The transaction is part of the investment organization’s commitment to allocate $100 billion in investments of Quebec companies by 2026, according to a press release, which noted the funds will help support Fiera Capital’s international expansion and will be allocated across two separate investment strategies.
“Contributing to Québec’s economic development is at the heart of [the Caisse’s] mission,” said Vincent Delisle, executive vice-president and head of liquid markets at the Caisse, in the release. “By entrusting $600 million to Fiera Capital, a well-established and successful manager, we are benefiting from local financial expertise and supporting the growth of Québec’s asset management industry, while also contributing to the diversification and performance of our portfolio.”
Read: Caisse investing $500MN in National Bank of Canada, backing EV charging station operator
In other news, the British Columbia Investment Management Corp. is selling its majority stake in alternative asset management firm Hayfin Capital Management LLP to Arctos Partners.
The financial details of the transaction weren’t disclosed. Once the deal close, the BCI will remain a significant and strategic limited partner in some of Hayfin’s fund strategies. In a press release, Jim Pittman, executive vice-president and global head of private equity at the BCI, said they remain confident in the management team, strategic vision and investment strategies of Hayfin.
“We are delighted to have reached this agreement with Hayfin and Arctos, delivering an excellent outcome for BCI’s pension plan and insurance clients. We’re extremely proud of the partnership we forged with the Hayfin team over the past seven years, which has delivered significant growth in a critical period for the private credit market.”
Read: BCI sells $1 billion worth of private equity holdings to investment firm