Caisse de dépôt et placement du Québec (CDPQ), Canada's second-largest pension fund, has put the brakes on its private investment activity in China, according to the The Financial Times.
In May, several Canadian pensions, including CDPQ, were asked at a parliamentary hearing about their relationship with China, amid bilateral political tensions. Although CDPQ still has business interests in China, it is planning to close its Shanghai office this year, said sources with knowledge of the matter.
“We paused private investments for some time already — and have focused on liquid markets, which is the majority of our 2 percent total portfolio exposure to China,” said CDPQ in a statement. “We expect this trend to continue.”
CDPQ’s core activities encompass private markets and credit, including real estate debt and infrastructure financing. The pension fund’s real estate portfolio was at $47.6 billion of net assets, as of Dec. 31, and it repre
