Caisse de dépôt et placement du Québec

What Caisse de dépôt et placement du Québec does

Caisse de dépôt et placement du Québec (CDPQ, operating as La Caisse) is a Quebec Crown corporation founded in 1965 that manages public pension and insurance fund deposits on behalf of 48 depositors representing over 6 million Quebecers. The organization pursues a dual mandate: deliver optimal long-term investment returns to its depositors while contributing to Quebec's economic development. CDPQ invests across five asset classes — private equity, fixed income, real estate, infrastructure, and equity markets — plus third-party funds and external management. As at June 30, 2026, net assets stood at CAD $552 billion, generating 5.1% over six months, 6.4% annualized over five years, and 7.5% annualized over ten years, each exceeding depositors' 6% long-term return requirement.

CDPQ's operating model is direct institutional investing with a global footprint of 11 offices in Montreal (headquarters), Quebec City, Toronto, New York, Mexico City, São Paulo, London, Paris, New Delhi, Singapore (Asia-Pacific regional HQ), and Sydney. Wholly-owned subsidiaries include Ivanhoe Cambridge (global real estate) and CDPQ Infra (infrastructure project delivery, including the REM automated transit network and the Alto high-speed rail project between Quebec City and Toronto). The organization holds top-tier credit ratings (AAA/DBRS, AAA/S&P, Aaa/Moody's, AAA/Fitch) and was ranked #1 in Global SWF's 2026 sustainability ranking.

The business generates revenue through investment returns on its managed portfolio rather than fee-based asset management pricing. Notable recent strategic actions include the joint acquisition of Boralex with Brookfield (~30% stake, ~$9 billion enterprise value), the co-led Aeroplan minority investment with Blackstone ($2.5 billion for a 25% stake at a $10 billion valuation), the Optio Group specialty insurance MGA acquisition with Cinven, and the GO.FARM Australia agriculture platform partnership. CDPQ does not publish pricing schedules because its depositor base is contractually anchored by provincial statute.

Name

Caisse de dépôt et placement du Québec

Legal name

Caisse de dépôt et placement du Québec

Website

https://cdpq.com

Company type

Private

Founded year

1965

Operating status

Operating

Short description

La Caisse (CDPQ) is a Quebec Crown corporation that manages CAD $552 billion in net assets across five asset classes for 48 public pension and insurance plan depositors representing over 6 million Quebecers, with a global footprint of 11 offices.

Ownership category

akta.pro rank

Product category

Institutional Investment Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investors, Nec (6799)

akta.pro primary industry

Real Assets — Social Infrastructure / PPP (Schools, Hospitals, Government Facilities) (FSAHAIAH)

akta.pro secondary industry

Real Estate Public-Private Partnership (PPP) & Infrastructure-Adjacent Real Estate Advisory (BPAJANAL)

Keywords

• Institutional investment management
• Pension fund management
• Private equity investments
• Infrastructure investments
• Real estate investments

Headquarters

HQ city

Quebec

HQ country

Canada

HQ region

North America

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Investment returns on managed assets: La Caisse generates returns on its managed portfolio of CAD $552 billion (as of June 30, 2026) through diversified investment activities across public markets, private equity, infrastructure, real estate, and private credit. Returns benefit its 48 depositors representing over 6 million Quebecers, while also contributing to Québec's economic development.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Caisse de dépôt et placement du Québec (CDPQ / La Caisse) is a global institutional investment group that manages CAD $552 billion in net assets (as of June 30, 2026) on behalf of 48 public pension and insurance plan depositors representing over 6 million Quebecers. It invests across five core asset classes — Private Equity, Fixed Income, Real Estate, Infrastructure, and Equity Markets — supplemented by Funds and External Management, with a dual mandate of generating optimal long-term returns and contributing to Québec's economic development.

Product overview

La Caisse is a global institutional investment group managing funds for public pension and insurance plans. It operates as a single, unified investment platform organized around five core asset classes: Placements privés (Private Equity), Revenu fixe (Fixed Income), Immobilier (Real Estate), Infrastructures (Infrastructure), and Marchés boursiers (Equity Markets), supplemented by Fonds et gestion externe (Funds and External Management). Its mandate is dual: generate optimal long-term returns for its depositors while contributing to Quebec's economic development. It is not a software or technology product company; its offerings are investment management services and strategies across global financial markets, private assets, and real assets.

Differentiator

Problem solved

Functional benefit

Brands

• Ivanhoe Cambridge: Global real estate investment and asset management subsidiary of CDPQ, managing portfolios across office, retail, logistics, and residential sectors worldwide.
• CDPQ Infra

Products and services

• Placements privés (Private Equity) Private equity investments in companies across various sectors and geographies, managed both directly and through external funds, offered as one of CDPQ's five core asset classes.
• Revenu fixe (Fixed Income) Fixed income portfolio composed of credit and rates portfolios, including government and corporate debt, as well as private credit segments such as real estate finance and infrastructure financing.
• Immobilier (Real Estate) Real estate investments across multiple sectors, transitioning from an operator model to an investor model, with exposure to offices, logistics, retail, and life sciences. Managed through wholly-owned subsidiary Ivanhoe Cambridge.
• Infrastructures (Infrastructure) Infrastructure investments spanning public transportation, water and energy distribution, utilities, toll roads, airports, ports, and telecommunications. Project delivery is executed through wholly-owned subsidiary CDPQ Infra.
• Marchés boursiers (Equity Markets) Equity market investments in global stock markets, with strategic positioning in global technology and AI-related sectors, incorporating systematic management strategies.
• Fonds et gestion externe (Funds and External Management) Investments in third-party funds and external asset managers to diversify and complement direct investment capabilities.

Quantifiable outcome

• Generated 5.1% return over six months (mid-2026), 6.4% annualized over five years, and 7.5% annualized over ten years, exceeding depositors' 6% long-term return requirement

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• GO.FARMcoreStrategic or Co-development Partner · 23 July 2026La Caisse and GO.FARM launched a AUD $330 million platform to invest in permanent crops in Australia. La Caisse invested AUD $300 million in equity through a platform managed by GO.FARM, which committed an additional AUD $30 million. La Caisse also became a minority shareholder in GO.FARM, strengthening long-term alignment. Founded in 2013, GO.FARM manages approximately AUD $1.6 billion in agricultural assets in Australia.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• PSP Investments: Manages CAD ~$250B+ for Canadian federal public sector pension and insurance plans. Direct co-investment partner in the Aeroplan transaction alongside CDPQ, operating with identical institutional mandate.
• OMERS: OMERS manages CAD ~$130B+ for Ontario municipal employees. Direct peer as a large Canadian defined-benefit pension fund manager with global infrastructure and real estate investments.
• New Zealand Super Fund: Manages NZD ~$80B+ for New Zealand universal superannuation. Operates with similar long-term, low-turnover pension mandate and Connexa (CDPQ's NZ mobile tower investment) provides direct transactional overlap.
• British Columbia Investment Management Corporation (BCI): Manages CAD ~$250B+ for British Columbia public sector plans. Co-invested with CDPQ in the Aeroplan minority stake and is a direct comparator in Canadian Crown pension asset management.
• Ontario Teachers' Pension Plan (OTPP): Manages CAD ~$250B+ for Ontario teachers and is a direct co-investment partner with CDPQ (e.g., Connexa). Same pension-fund manager model with global infrastructure and private equity focus.
• CPP Investments: Canada Pension Plan Investment Board manages CAD ~$600B+ for the Canada Pension Plan, operating with a similar global institutional investment model across public markets, private equity, infrastructure, and real estate. Direct comparable as a Canadian Crown-mandated pension fund manager with global footprint.
• Alberta Investment Management Corporation (AIMCo): Manages CAD ~$170B+ for Alberta pension, endowment, and government funds. Another Alberta Crown pension manager with global private markets and infrastructure focus, directly comparable in mandate and scale.

Broad incumbents

• GIC (Singapore): Singapore sovereign wealth fund managing USD ~$770B+ for long-term global returns. Largest Asian sovereign peer with comparable infrastructure and private equity deployment scale and strategy.
• Norges Bank Investment Management (NBIM): Manages Norway's Government Pension Fund Global (USD ~$1.7T+, the world's largest sovereign wealth fund). Comparable in mandate as long-term institutional investor with global diversified portfolio.
• Caisse des Dépôts et Consignations: French public investment group with a similar name and statutory structure to La Caisse, managing deposits and long-term capital across real assets, private equity, and infrastructure. Direct international analogue of CDPQ's model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCR01pvUBCfUC080MAYZkw9w
• LinkedInlinkedin.com/company/lacaisse/posts/?feedView=all
• Instagraminstagram.com/lacaisse_

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Caisse de dépôt et placement du Québec