CDPQ plans to open an office in India within the next few months as it continues to expand its global footprint.
The Montreal-based institutional investor already has working offices in Beijing and Singapore and opened an office in Mexico City earlier this year.
It adopts a relatively lean structure compared to some of its peers, CDPQ’s executive vice president of private equity and infrastructure Andreas Beroutsos, told Private Equity International.
“One big difference for us is that most of our offices have three to six people. Some of our peers have relatively high fixed costs.”
The Canadian group is understood to be close to making a couple of significant investments for its private equity portfolio, which was worth $23 billion at the end of June 2015.
“The fourth quarter of the year is a very significant time for investors like us, accounting for around a third of our [investment] activity for the year,” Beroutsos said.
Much of CDPQ’s recent private equity activity has been in the infrastructure space. An Australian office, where the firm has four significant infrastructure investments including the Port of Brisbane, was opened in late August.
Beroutsos told PEI that the firm had achieved add–on deals for two of the four Australian infrastructure investments in recent months.
On 21 September the group agreed a deal with a consortium of Mexican institutional investors, creating a co-investment platform to invest up to $2.1 billion over the next five years in Mexican infrastructure. CDPQ has a 51 percent stake in the venture.
CDPQ had almost $241 billion of total assets under management at the end of June 2015. Private equity and infrastructure made up a combined $35 billion, with Beroutsos planning to increase this to $50 billion by 2018 by allocating up to $8 billion a year across both.
It plans to double the infrastructure bucket alone, from the current $9 billion to $18 billion over the same timeframe.
The group also has offices in New York, Washington, and Paris, as well as domestic offices in Quebec City and Montreal.