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CDPQ Posts 9.3% Return for 2017

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Caisse de dépôt et placement du Québec (CDPQ) generated 9.3% in annual return for the year ending in 2017. CDPQ posted an annualized return of 10.2% over five years. CDPQ’s net assets rose to C$ 298.5 billion. CDPQ continues to be a major investor in Québec’s economy. CDPQ also continues to focus on absolute-return management, less-liquid assets and credit investments in areas such as corporate credit, sovereign credit and specialty finance. CDPQ formed a US$ 2 billion platform for leasing and financing aircraft in 2017, partnering with GE Capital Aviation Services.

CDPQ increased its cross-border reach with having offices in regions such as Latin America, Asia, Europe and the United States. Exposure to growth markets increased from C$ 15 billion in 2012 to over an excess of US$ 35 billion at the end of 2017.

Agropur Platform

On February 14, 2018, CDPQ revealed forming a joint investment platform with Agropur Cooperative (Agropur) to back the dairy industry. The C$ 40 million platform will be 50:50 owned by both parties and invest in businesses specializing in dairy-related products and technologies.

Italian ANAS and RDIF Invest and Build the Fourth Section of Moscow’s Central Ring Road

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The Russian Direct Investment Fund (RDIF) inked a deal with ANAS S.p.A. (formerly known as Azienda Nazionale Autonoma delle Strade), the Italian state highway management company, to implement a concession agreement to build and operate the fourth section of the massive Moscow Central Ring Road. The transaction expects to be finalized in the first quarter of 2019. This is the final section of Central Ring Road, which is 96.5 kilometers long. According to the RDIF, “Under the terms of the concession agreement, the cost of construction is 85.4 billion rubles, of which the concessionaire will provide 49.7 billion rubles and private investors will provide 35.7 billion rubles.”

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Follow the Money – Episode 48

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This long-form podcast was recorded on December 11, 2018. Michael Maduell dissects the latest geopolitical trends that can impact institutional investors such as pensions, sovereign wealth funds, and endowments. Maduell lends his opinion on the lawsuit of Neiman Marcus and bumps in the road for augmented reality.

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CONTENTS
1:15 Huawei, Canada, Brexit, and Macron Headache
6:30 Sovereign Wealth Fund Asset Allocation
9:58 India Gets a New Central Bank Governor
13:26 Pensions Go Bust on U.S. Retailers
17:04 Augmented Reality and Sovereign Funds
22:00 Former CalPERS CIO Goes to Morgan Stanley Investment Management
24:30 Oman Investment Fund Goes on Defense in Public Markets
25:00 Japanese Scandals and Opportunities

EPISODE 48

Stream off Follow the Money

The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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Danica Pensions Sells Danica Pension Sweden

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Danica Pension sold Danske Pension Försikringsaktiebolag (publ) (also known as Danica Pension Sweden) to a group of investors for around 2.6 billion SEK. Danica Pension is part of Danske Bank A/S. Of the total amount, 2.3 billion SEK is being paid in cash, while the rest is in the form of a debt instrument from Danica Pension.

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