The Caisse de dépôt et placement du Québec is investing $250 million in Avison Young Inc.

The investment will help speed up the global commercial real estate firm’s strategic growth plan, according to a news release.

“Avison Young’s track record and experienced team speak for themselves: through a well-defined and executed business strategy, the company has grown considerably in recent years, particularly by entering international markets with strong potential,” said Stéphane Etroy, executive vice-president and head of private equity at the Caisse. “With its unique corporate culture and its long-term vision, Avison Young is an ideal partner for CDPQ and we look forward to supporting the company as it continues to grow over the coming years.”

Read: Caisse invests $50M in Canadian construction company

Funds from the investment will be used by Avison Young for recruitment, as well as to repurchase shares held by its current private equity partner Parallel49 Equity and shares from some of the company’s non-management founders and former principals. Avison Young’s principals will now own 100 per cent of its common shares.

“We look forward to a collaborative relationship with CDPQ and its large global network, and benefitting from the ability to share expertise, deal flow, market intelligence and resources as we continue to grow our business across the spectrum of commercial real estate services in North America and other key markets globally,” said Mark Rose, chair and chief executive officer of Avison Young.

“We are gratified by CDPQ’s support of our growth strategy, which we launched from a base of 11 offices in Canada and expanded to 84 offices across North America and Europe in just under 10 years, and growing revenue more than 15 times during that period. CDPQ’s investment will provide additional momentum as we accelerate our innovative and technology-based capabilities and market presence to serve clients facing today’s rapidly changing real estate environment,” added Rose.

The terms of the transaction, which closed Tuesday, have not been disclosed.

Read: CPPIB invests in Chinese rental market, Caisse in Spanish solar power

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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