The Caisse de dépôt et placement du Québec is acquiring a 44 per cent stake in the Australian life and pet insurance distributor Greenstone.
“The investment in Greenstone is aligned with our objective to further the development of businesses that are industry leaders and stand out through innovation,” Roland Lescure, executive vice-president and chief investment officer of the Caisse, said in a release.
“With this transaction, we will once again team up with high-quality partners in Australia, one of our priority markets. We’re planning to contribute both capital and global industry know-how.”
Greenstone’s founders, Richard Enthoven and Gavin Donnelly, will remain majority shareholders.
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The Caisse has been investing in Australian assets since 2012 in areas such as social infrastructure, real estate and electricity transmission.
In 2015, the Caisse opened an office in Australia that operates under its subsidiary, CDPQ Sydney.