Caisse de dépôt et placement du Québec (CDPQ) is investing $600 million with Fiera Capital.

The move has widespread commercial real estate implications in Quebec and globally. Montreal-based Fiera invests extensively in properties through subsidiary Fiera Real Estate.

Montreal-based CDPQ said the assignment is part of its goal to increase the funds entrusted to Quebec asset managers to $8 billion by 2028 and stimulate growth in the local asset management industry. CDPQ also wants to support Fiera’s international expansion.

The $600 million will be allocated to Fiera’s Active and Strategic Fixed Income and Fiera Atlas Global Companies strategies. CDPQ invests globally and ranks among Canada’s largest institutional investors.

“Contributing to Quebec’s economic development is at the heart of CDPQ’s mission,” said Vincent Delisle, executive vice-president and head of liquid Markets at CDPQ. “By entrusting $600 million to Fiera Capital, a well-established and successful manager, we are benefitting 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.”

At last report, CDPQ’s net assets totalled $434 billion.

Photo: Fiera Capital