Quebec-based pension fund Bâtirente is investing $15 million towards the creation of a green bond fund to be set up and managed by its partner AlphaFixe Capital Inc.
The deal, which puts five per cent of Bâtirente’s total assets in energy transition, is its second major investment in this field. In 2016, it gave a mandate to AGF Management Ltd. to manage part of its global equity multi-fund, which is currently valued at $13.5 million.
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“The investment in this fund allows us to combine performance and social responsibility,” said Daniel Simard, Bâtirente’s chief executive officer, in a news release. “Everyone is aware that global warming is a significant risk that will very likely have an impact on the environment as well as a direct impact on us, on the risk level and the performance of our funds.”
Bâtirente, which outsources its investment management, has also selected Allard, Allard & Associés Inc. and Foyston, Gordon & Payne Inc. to join Triasima Portfolio Management Inc. to help manage its Canadian equity multi-fund.
“These three managers offer complementary styles that will allow the optimization of our members’ risk profile,” said Louise Charette, Bâtirente’s chief investment officer.
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