Government and Public Employees Retirement Plan

All investment decisions are delegated to the Caisse de dépôt et placement du Québec (CDPQ), which acts as the plan's exclusive portfolio manager. Charles Emond serves as President and CEO of CDPQ, overseeing the deployment of capital across asset classes. The plan itself, administered by Retraite Québec, does not maintain a separate internal investment team — it relies entirely on CDPQ's institutional infrastructure and expertise.

Retraite Québec administers the plan's pension administration — collecting contributions, tracking member benefits, and calculating liabilities. CDPQ serves as the plan's exclusive investment manager, deploying the pooled assets into global markets. The plan is not a standalone entity but a segregated mandate embedded within CDPQ's broader management of Quebec's public retirement assets.

Through CDPQ, the plan holds direct and co-investment stakes in major infrastructure assets including Heathrow Airport Holdings in London, the Eurostar high-speed rail service linking the UK to continental Europe, and the Réseau express métropolitain (REM) automated light-rail network in Montreal. These positions reflect CDPQ's strategy of owning and operating core infrastructure with multi-decade holding periods.

Yes. CDPQ holds direct stakes in commercial real estate on behalf of the plan, with confirmed properties including CIBC Square in Toronto, the Montreal Eaton Centre, Place Ville Marie in Montreal, Metropolis at Metrotown in Burnaby, British Columbia, and CrossIron Mills in Rocky View County, Alberta. The portfolio concentrates on high-quality retail and office assets in major Canadian metropolitan markets.

The plan, via CDPQ, is a signatory to the UN Principles for Responsible Investment and a founding member of the Investor Leadership Network. CDPQ also received the Terra Carta Seal from the Sustainable Markets Initiative, indicating a commitment to integrating sustainability factors into investment decisions and engaging with portfolio companies on climate and governance issues.