Canada’s CDPQ To Invest More Than $10 Billion In UK, FT Says

Canadian pension fund Caisse de Depot et Placement du Quebec is looking at investing more than £8 billion ($10.8 billion) in the UK over the coming five years, the Financial Times reported.

CDPQ, Canada’s second-largest pension fund managing C$473 billion ($344 billion), could raise its allocation to UK assets by 50% in that period, the FT reported Sunday, citing an interview with the fund’s Chief Executive Officer Charles Emond. 

Emond said plans by the UK government to boost infrastructure spending presents opportunities to invest, the paper said. The fund will probably trim its exposure to the US by “a little bit” from about 40% now, while increasing its allocation to Europe to 17% from 15%, he was cited as saying, without giving a timeframe. 

CDPQ, which has C$32 billion in UK assets, is also planning to increase investments in France and Germany. New investments in Europe will target energy transition-related assets, the FT said.