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Université Laval Pension Plan
The Université Laval Pension Plan operates as a defined benefit scheme exclusively for employees of the Quebec City university.
Université Laval Pension Plan
The Université Laval Pension Plan operates as a defined benefit scheme exclusively for employees of the Quebec City university. The Bureau de la retraite handles administration, but the plan does not invest in isolation. Its assets roll into the Fonds commun de placement, a master trust that aggregates the four pension plans of Université Laval, creating a larger pooled vehicle for external manager access and cost efficiency. Asset allocation is implemented entirely through the master trust, which spans global real estate, global infrastructure, and North American direct loans. The trust holds a mixed-use global real estate portfolio alongside infrastructure assets and a direct lending book focused on North America. The plan's investment committee — which includes external members Michel Lemieux (who also serves on investment committees for Hydro-Québec and Financière des professionnels) and Marc-André Binette (a senior executive at Fondaction) — oversees manager selection, asset mix, and policy. Simon Blanchard sits on the committee as well, contributing to manager searches. The plan covers approximately 13,000 active and former university employees. Its governance structure separates the Bureau de la retraite from the investment committee, which reports through the university's broader retirement governance framework. The plan maintains ties to the Pension Investment Association of Canada, participating in industry benchmarking. Hélène Bond served as investment manager for the plan's mutual funds until 2019, preceding the current committee configuration. No recent fund closes or mandate changes are publicly documented. The structural differentiator is the master trust itself: rather than building an in-house investment team or engaging an outsourced CIO, the pension plan pools with three sister university plans inside a single investment vehicle, retaining committee-level control over asset allocation while relying on the trust for implementation. This model concentrates adviser-level governance in a small committee with external members who bring parallel fiduciary experience from Hydro-Québec and Fondaction.
General information
Firm type
Pension Fund
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Quebec
Corporate office
Quebec, Quebec, Canada
Principals
Michel Lemieux
External member of the Investment Committee
Simon Blanchard
Member of the Investment Committee
Marc-André Binette
Member of the Investment Committee
Sector focus
Frequently asked questions
Who runs investment decisions at the Université Laval Pension Plan?
An investment committee that includes external members sets asset allocation and selects managers. Michel Lemieux, who also serves on investment committees for Hydro-Québec and Financière des professionnels, and Marc-André Binette, a senior executive at Fondaction, are among the named committee members. Simon Blanchard also participates in manager searches and asset-mix decisions.
Does the plan invest directly or through a pooled vehicle?
The plan does not invest directly. Its assets are pooled inside the Fonds commun de placement, a master trust that aggregates the four pension plans of Université Laval. The trust then allocates to external managers across real estate, infrastructure, and private credit.
Which asset classes does the plan target?
Through the master trust, the plan accesses global real estate, global infrastructure, and direct lending in North America. The real estate portfolio is described as mixed-use; the direct-loan book is regionally concentrated but no individual positions are publicly disclosed.
How is the plan governed?
The Bureau de la retraite administers the plan and reports through a governance structure that includes a retirement committee, a placement policy, and codified governance rules. The investment committee functions under a formal mandate and includes external members alongside university-linked personnel.
What is the plan’s participation in co-investments or fund commitments?
No public sourcing details confirm co-investment activity. The master trust structure uses external managers for real estate, infrastructure, and loans, which may involve commingled funds or separate accounts, but the plan does not publicize specific fund commitments.
Is there a philanthropic arm linked to the pension plan?
La Fondation de l’Université Laval is a separate university foundation. The pension plan and the foundation are distinct entities, and the plan does not disclose a direct philanthropic program.
How large is the plan, and is AUM publicly reported?
AUM is undisclosed. The plan administers retirement assets for approximately 13,000 university employees and retirees, but the master trust’s consolidated figures are not publicly broken out by individual plan.
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