Caisse de dépôt et placement du Québec invests C$250m in Avison Young

Caisse de dépôt et placement du Québec has made a C$250 million ($189 million) preferred equity investment to Avison Young.

Avison Young will use the proceeds to invest in acquisitions and the recruitment of key professionals.

In addition, a portion of the proceeds will be used to repurchase the shares held by the firm’s current private equity partner, Parallel49 Equity (formerly known as Tricor Pacific Capital), as well as shares of certain other non-management founders and former principals of Avison Young.

Avison Young also announced that CDPQ will be entitled to designate three members of Avison Young’s nine-member board of directors.

Headquartered in Toronto, Canada, Avison Young is a private and principal-led, global commercial real estate services firm, which is owned and operated by its principals.