# Caisse de Dépôt et Placement du Québec (CDPQ)

Caisse de Dépôt et Placement du Québec (CDPQ) is a Pension Fund based in Montreal, Canada.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Montreal, Canada
- **Region:** North America
- **Address:** Montreal, Quebec, Canada
- **Founded:** 1965
- **Assets under management:** $330.7 billion (Altss estimate)
- **Website:** cdpq.com
- **LinkedIn:** https://www.linkedin.com/company/661323

## Regulatory record

- **Reports private funds:** No

## About

Caisse De Dépôt Et Placement Du Québec (Cdpq) is an investment firm. It has made one investment, deploying $139 million in total capital.

## Sectors

- Infrastructure
- Real Estate
- Private Credit
- Renewable Energy

## People

- Charles Emond — President and CEO

## Questions

### Who runs investment decisions at CDPQ?

Charles Emond is President and CEO, a role he has held since 2020. He oversees all investment strategy, asset allocation, and external partnerships. The fund maintains internal investment teams across its major asset classes — infrastructure, real estate, private equity, public markets, and fixed income — with direct decision-making authority rather than relying on external managers.

### How does CDPQ source its direct infrastructure deals?

CDPQ sources deals through long-term strategic partnerships and wholly owned platforms rather than competitive auctions. The fund's relationship with DP World, for example, involves co-investment vehicles that hold port assets globally. CDPQ also builds proprietary operating companies like Einn Volant Aircraft Leasing, giving it deal flow and operational control that fund-of-funds allocators do not access.

### Why does CDPQ own aircraft leasing and port companies directly?

CDPQ's legislative structure as a depositor — receiving direct contributions from Quebec pension plans — gives it a permanent capital base that suits owning long-duration, illiquid assets outright. Rather than committing to infrastructure or private equity funds, CDPQ acquires controlling or co-controlling stakes and operates the assets on its balance sheet. This reduces fee leakage and increases alignment with its 30-year liability horizon.

### Does CDPQ co-invest alongside other institutional investors?

Yes. CDPQ frequently partners with other large institutional investors and operators. Its Catalytic Transition Fund was co-launched with Brookfield Asset Management in 2024. CDPQ has also partnered with SMBC Aviation Capital on aircraft financing. These co-investor relationships reduce single-asset concentration risk while maintaining direct ownership economics.

### How does CDPQ's net-zero commitment affect its portfolio?

CDPQ joined the Net-Zero Asset Owner Alliance, committed to achieving a net-zero portfolio by 2050. The fund has built out a renewable energy portfolio alongside its infrastructure investments. Its 2024 Catalytic Transition Fund explicitly targets energy transition assets in emerging markets. CDPQ also holds legacy natural gas exposure, making the transition a multi-decade portfolio engineering challenge rather than a binary divestment.

## Related profiles

- [Caisse de Dépôt et de Gestion](https://altss.com/profile/caisse-de-depot-et-de-gestion-cdg)
- [Caisse de Prévoyance des Fonctionnaires de Police et des Établissements Penitentiaires](https://altss.com/profile/caisse-de-prevoyance-des-fonctionnaires-de-police-et-des-etablissements-penitent)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/caisse-de-depot-et-placement-du-quebec-cdpq

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology