La Caisse de dépôt et placement du Québec, which manages funds for public and private pension and insurance plans, has announced the injection of another $100 million into the Québec Manufacturing Fund (QMF). The Caisse is the QMF’s main sponsor.
The new investment creates the second phase of the fund, whose mandate is to identify profitable manufacturing companies in Quebec that present attractive business opportunities.
“To prosper, Quebec’s manufacturing companies have to compete globally, put in place succession plans and optimize their business processes. To address these challenges, [the] Caisse intends to support Quebec’s manufacturing sector by offering it new capital,” explains Normand Provost, executive vice-president, private equity, with the Caisse. “The fund enables us to earn returns for our clients while generating economic benefits for Quebec.”