Caisse de dépôt et placement du Québec will invest US$500 million in Sedgwick Claims Management Services Inc., a third-party claims administrator with offices in the United States, Canada, Britain and Ireland.
Following the transaction, the pension fund will hold a significant minority interest in the capital of the company, in partnership with its current shareholders, global investment firm KKR, private equity firm Stone Point Capital and members of Sedgwick’s management.
“Sedgwick is operating in a promising market,” said Roland Lescure, Caisse’s chief investment officer, in a news release. “The company has performed remarkably over time and its management has a solid track record. We particularly appreciate how resilient the company has been throughout the various cycles and its stable, long-term growth strategy, which is perfectly aligned with CDPQ’s investor profile.”
Read: Caisse acquires outstanding shares of human-machine interface company