Investment group Caisse de dépôt et placement du Québec (CDPQ) has selected Fiera Capital, a Canadian independent asset management firm, to manage C$600m ($434m) in new mandates.
The move comes as part of the CDPQ’s goal to increase its investments managed by Quebec-based firms to C$8bn ($5.8bn) by 2028.
Over the next four years, CDPQ plans to more than double the funds it allocates to Québec fund managers, said the investment group. This commitment aligns with CDPQ’s broader goal of reaching C$100bn ($72.3bn) in investments in Québec by 2026.
CDPQ liquid markets executive vice-president and head Vincent Delisle said: “Contributing to Québec’s economic development is at the heart of CDPQ’s mission.
“By entrusting C$600m to Fiera Capital, a well-established and successful manager, we are benefiting from local financial expertise and supporting the growth of Québec’s asset management industry, while also contributing to the diversification and performance of our portfolio.”
CDPQ’s investment consists of two new mandates of C$300m ($217m) each. One will be allocated to Fiera Capital’s active and strategic fixed income managed by Fiera Capital’s senior portfolio manager Charles Lefebvre and his team.
The second mandate will be directed to Fiera Atlas Global Companies strategy managed by its head, senior vice president and senior portfolio manager Simon Steele.
Fiera Capital said that in the coming months, the active and strategic fixed income team will enhance the fixed income mandate by implementing an overlay strategy, transitioning to a relative value solution.
In contrast, the Fiera Atlas Global Companies strategy employs a fundamental, bottom-up, research-driven investment approach, focusing on 25 to 35 companies with strong wealth creation potential.
These companies are supported by sustainable and diversified cash flows, which are expected to compound over the long term.
Fiera Capital Canada and global private wealth president and CEO Maxime Ménard said: “CDPQ’s renewed trust in Fiera Capital, a pillar of Québec finance, underscores our role as an investment leader. Fiera Capital stands out for its ability to offer optimised portfolio solutions, combining innovation and precision in risk and return management. Our commitment to excellence allows us to meet the diverse needs of our clients.”
