The Caisse de dépôt et placement du Québec is investing in Montreal-based Innocap Investment Management Inc. through a share capital purchase and the issuance of a loan. 

As of Oct. 31, 2017, the financial services firm and its subsidiaries managed US$5.7 billion in assets for institutional investors, financial institutions and fund managers in North America, Europe and Asia. The transaction will allow Innocap’s management team to become a shareholder alongside the Caisse and BNP Paribas Group, a shareholder since 2007. 

Read: Caisse, Desjardins create investment fund targeting financial technology

“This stake in Innocap allows us to support the international growth of a Quebec-based player that distinguishes itself through innovation, the quality of its team and its expertise,” said Christian Dubé, executive vice-president for Quebec at the Caisse. “This transaction also provides us with an opportunity to support the development of a financial technology and data analysis company while supporting the transfer of Quebec companies.”

François Rivard, Innocap’s president and chief executive officer, noted the investment will help the company accelerate its growth plan and identify new business opportunities. 

The transaction is subject to standard closing conditions, but is expected to close in the first quarter of 2018.

Read: Caisse reinvests in Quebec-based metal and chemical producer

Copyright © 2020 Transcontinental Media G.P. Originally published on

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