Caisse de d茅p么t et placement du Qu茅bec (CDPQ) is taking a 20% stake in Australian infrastructure company Plenary Group Holdings.
Plenary will issue new shares to secure additional capital to fund participation in future projects.
Macky Tall, executive vice-president of infrastructure at CDPQ, said: 鈥淕iven the scale of Australia鈥檚 infrastructure opportunities, this partnership will enable us to identify the best projects to generate stable and predictable returns over the long term.鈥�
CDPQ has so far invested more than AUD200m (鈧�138m) in seven Plenary-originated Australian projects since 2012, including the AUD1bn Victorian Comprehensive Cancer Centre, which opened in June this year.
John O鈥橰ourke, chairman at Plenary, said: 鈥淗aving our long-standing partner as a shareholder will provide us with the opportunity to further pursue large public infrastructure projects expected to be carried out over the coming years.鈥�
CDPQ last year opened an office in Australia under its CDPQ Sydney subsidiary.
