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CDPQ CIO Roland Lescure Exits Role for Public and Political Life

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Roland Lescure, the Chief Investment Officer of Caisse de dépôt et placement du Québec (CDPQ), on April 5th, announced his intentions to leave his position. Lescure is exiting his role to enter public and political life. Lescure plans to return to France to enter politics.

In a news release, Lescure stated, “I have spent the past seven years working in one of the best institutions in Canada. I worked with extraordinary people and helped build a world-class investment organisation whose success benefits all Quebecers. On the eve of the French elections, I have decided to enter public and political life because I want to play a quite active role at a crucial time for France and for Europe. Since la Caisse is apolitical and non-partisan, I will have more to say about the political commitment I am making tomorrow.”

Lescure joined CDPQ in 2009, being recruited by Michael Sabia, the CEO of CDPQ. From 2006 to 2009, Lescure was CIO of Groupama Asset Management in France. He worked in asset management at the Caisse des Dépôts et Consignations (CDC).

A recruitment process is underway to fill the CIO position at CDPQ. In the interim, Michael Sabia will take on the duties of CIO.

China Helps Pakistan’s Foreign Reserves

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Despite Pakistan witnessing an increase in exports, the rapid increase in crude prices and lackluster financial inflows, have affected the country’s balance of payments position. Trying to avoid a full-scale currency crisis, Pakistan is also dealing with a fiscal budget deficit and a current account deficit. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Russia-Japan Investment Fund to Back Wood Pellet Production in Russia

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The Russian Far East has a lot of timber, and for that wood pellets is a source of biofuel. A while back, the Russian Direct Investment Fund (RDIF) formed the Russia-Japan Investment Fund (RJIF) with the Japan Bank for International Cooperation (JBIC). RDIF and JBICIG Partners as part of RJIF, together with RFP Group and Japan’s Prospect Co., Ltd. have agreed to collaborate and consider potential investments in Russia’s biofuel industry. JBICIG Partners is a subsidiary of the Japan Bank for International Cooperation.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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RDIF Lures Asian Investors Toward Russian Surgical Robot Project

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The Russian Direct Investment Fund (RDIF) is partnering with a number of unnamed Asian co-investors to allocate capital toward a project to create and manufacture Russian surgical robots. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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