MONTREAL - Quebec pension fund manager Caisse de depot has entered the Australian market by investing $149 million in five public-private partnership projects.
The deal with Australia's Plenary Group will allow Canada's largest pension fund manager to directly invest in projects Down Under, including the Melbourne Convention Centre.
The other projects with Australian government bodies include the country's defence force accommodation units, a Melbourne hospital, police and court facilities.
Caisse senior vice-president Macky Tall said that the two organizations are investing in projects that provide predictable long-term returns.
A sixth joint investment should be announced by the two organizations later this year, the investment giant said in a news release.
The Caisse de depot et placement du Quebec manages funds primarily for public and private pension and insurance plans and held $151.7 billion in net assets as of Dec. 31, 2010.
