Caisse de dépôt to invest in BNP Paribas-backed Innocap
Caisse de dépôt et placement du Québec has agreed to invest in Innocap Investment Management Inc, a Montréal-based provider of managed account solutions. No financial terms were released for the equity and debt deal, which is expected to close in the first quarter of 2018. It will see the Caisse and company management join BNP Paribas Capital Partners, the private equity arm of France's BNP Paribas SA, as shareholders, replacing National Bank of Canada, which sold its stake. BNP Paribas acquired a 25 percent interest in Innocap in 2007, when the business was a National Bank affiliate. Founded in 1996, Innocap manages US$5.7 billion in assets.
8 December 2017•4 mins read
