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Caisse de dépôt et placement du Québec
CDPQ manages CAD 434 billion for Quebec pension plans, investing globally in infrastructure, real estate, private equity, and sustainable assets.
Caisse de dépôt et placement du Québec
Founded in 1965 by the Quebec government, CDPQ is a public pension fund manager responsible for the savings of millions of Quebecers. It operates as a long-term investor with a dual mandate: generate sustainable returns while contributing to Quebec's economic development. CDPQ invests across asset classes including public equities, fixed income, private equity, infrastructure, and real estate. It has a strong track record in infrastructure, holding stakes in companies like Aéroports de Montréal and high-speed rail projects (per CDPQ, 2023). Real estate exposure includes properties via its affiliate Ivanhoé Cambridge. The portfolio spans North America, Europe, Asia, and emerging markets. With CAD 434 billion in net assets, CDPQ employs over 1,800 professionals. In 2023, it announced a target to reduce carbon intensity of its portfolio by 50% by 2030 (per CDPQ, 2023). Adjacent vehicles include CDPQ Infra, which focuses on infrastructure projects, and a sustainability-linked bond program. CDPQ is structured as a public pension fund manager with a unique governance model: independent board, but legislatively mandated to support Quebec's economy. This hybrid approach — balancing fiduciary duty with provincial development goals — sets it apart from most global pension funds.
General information
Firm type
Public Pension Fund
Year founded
1965
AUM
CAD 434 billion (per CDPQ, 2023)
Location
Region
North America
Country
Canada
City
Québec City
Corporate office
Québec City, QC, Canada
Additional offices
Montreal · Toronto · New York · London · Hong Kong · Singapore · São Paulo · Mumbai · San Francisco · Luxembourg
Principals
Charles Emond
President and Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at CDPQ?
Charles Emond has served as President and CEO since 2020. The investment team is led by a chief investment officer, with sector-specific managing directors for asset classes (per public record).
How does CDPQ source deal flow?
CDPQ leverages internal expertise across asset classes, with teams in offices worldwide. It co-invests alongside external partners and has direct origination teams for infrastructure and real estate (per CDPQ).
Is CDPQ structured as a pension fund or sovereign wealth fund?
CDPQ is a public pension fund manager, operating independently but with a legislative mandate to support Quebec's economy. It manages assets for Quebec pension and insurance plans (per CDPQ).
Does CDPQ participate in direct investments or only fund commitments?
CDPQ does both. It makes direct investments in infrastructure and real estate via subsidiaries like CDPQ Infra and Ivanhoé Cambridge, and also allocates to external private equity funds (per CDPQ).
What investment stages does CDPQ typically target?
CDPQ invests across the lifecycle, from growth equity to mature infrastructure assets. It has a long-term horizon, often holding stakes for decades (per public record).
Which sectors does CDPQ explicitly avoid?
CDPQ has committed to divest from thermal coal and aims to reduce carbon intensity. It does not avoid entire sectors outright but screens for environmental and social impact (per CDPQ, 2023).
Where does the underlying capital come from?
CDPQ manages funds for the Quebec Pension Plan, the SAAQ (auto insurance), and other provincial insurance programs. All beneficiaries are Quebec residents (per public record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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