Pension Pulse

Trevor Abes of Stockhouse reports pension manager CDPQ parks C$600M with Quebec's Fiera Capital: Caisse de dépôt et placement du Québec, the province’s most prominent pension manager, has invested C$600 million with Fiera Capital (TSX:FSZ), a leading Quebec asset management firm The allocation is part of CDPQ’s ambition, announced in 2023, to more than double its allocation to Quebec asset managers to C$8 billion by 2028 Fiera Capital, assets under management C$165.2 billion, delivers customized and multi-asset solutions across public and private markets to clients in North America, Europe and Asia Fiera Capital stock has added 25.38 per cent year-over-year, but has given back 25.79 per cent since 2019 Caisse de dépôt et placement du Québec (CDPQ), the province’s most prominent pension manager, has invested C$600 million with Fiera Capital (TSX:FSZ) , a leading Quebec asset management firm. Fiera will invest the capital in international expansion through its active an...

Jameson Berkow of the Globe and Mail reports B.C. pension manager sells stake in UK credit group Hayfin Capital: Already flush with cash, British Columbia Investment Management Corp. (BCI) is adding another billion dollars to its war chest. The Victoria-based pension fund manager agreed Tuesday to sell its majority stake in European alternative asset manager Hayfin Capital Management. Dallas-based sports investor Arctos Partners will finance a management buyout that will see Hayfin’s leadership team become its new majority owners. While the financial terms were not disclosed, a source familiar with the matter said the deal valued Hayfin at €1.2-billion, with BCI selling a 60-per-cent ownership stake. The Globe and Mail is not identifying the source because they were not authorized to speak publicly about the deal. That would translate to €720-million in proceeds for BCI, which at current exchange rates is roughly $1.1-billion. Since BCI first acquired a majority stake in H...

Aysha Gilmore of Net Zero Investors reports OMERS, CDPQ and Wiltshire commit to emerging markets transition debt: Global pension funds, including CDPQ, OMERS and the Wiltshire local government pension scheme (LGPS) fund, have committed to a $400m Emerging Markets Transition Debt (EMTD) fund managed by Ninety One. The debt portfolio will focus on providing companies in emerging markets with commercial financing for energy transition projects including clean infrastructure and technology as well as decarbonisation. Ninety One stated that the initial $400m raised for the EMTD fund was from a range of institutional investors, including CAD $434bn CDPQ, one of Canada’s largest pension fund managers, $128.6bn Canadian defined benefit pension plan OMERS and £3.1bn UK Local Government Pension Scheme fund Wiltshire. Jennifer Devine, head of Wiltshire Pension Fund, said that investing in emerging markets is “vital” for meeting the fund’s target of reaching net z...

Yantoultra Ngui and Roushni Nair of Reuters report Cyan Renewables buys Australian vessel operator MMA Offshore for A$1.1 bln: Singapore's Cyan Renewables, which operates vessels for offshore wind farms, said on Thursday it has bought MMA Offshore for A$1.1 billion ($726 million) in the largest takeover deal in this renewables segment in the Asia Pacific region so far this year. MMA shareholders will receive A$2.70 per share in cash, a 36% premium over its 90-day average price, according to a joint statement from Cyan and Australia-based MMA. Cyan, which is backed by infrastructure investor Seraya Partners, had initially offered A$2.60 per MMA share in March before sweetening the offer last month. In a separate statement, MMA said the scheme of arrangement between the company and its shareholders for Cyan's acquisition has been implemented and the delisting of MMA is expected to take effect on Friday. MMA's shares have climbed almost 44% this year, gi...