Caisse de Depot et Placement du Quebec (CDPQ), a Canadian institutional investor that manages several pension plans and insurance programs in Quebec, has posted a five-year annualized return of 9.2 percent for its infrastructure portfolio, which saw its assets nearly triple within that time period.
The returns largely stem from the good performance and quality of the portfolio companies, according to a Feb. 20 news release. In 2019, the infrastructure portfolio produced a return of 7.1 percent, which was in line with long-term expectations but below the benchmark return of 17.7 percent.
Notable infrastructure transactions in 2019 include the acquisition of a 30 percent stake in Vertical Bridge, a private owner and operator of communications infrastructure, the purchase of a 31.5 percent stake in Brazilian company TAG, alongside ENGIE, as well as investments in various ports, including two in Chile, a
