The Caisse de dépôt et placement du Québec is aiming to more than double the size of the assets it entrusts to Quebec external managers to as much as $8 billion by 2028.

The decision is part of an overall goal of reaching $100 billion in Quebec-based investments by 2026, according to a press release. The Caisse renewed its alliance with the Quebec Emerging Manager Program, an association aiming to connect institutional investors with Quebec-based money managers, earlier this year.

Read: Caisse investing in Quebec asset management development organization, OMERS completing U$1 BN term note issuance

In a press release, Kim Thomassin, executive vice-president and head of Quebec at the Caisse, said the economic development of Quebec is at the heart of the investment organization. “This means taking advantage of a variety of tools and expertise, including external asset management by local talents, an industry within which we wish to create new partnerships and thus pursue the diversification strategy of our portfolio.”