By David G. Barry
Caisse de
dépôt et placement du Québec has turned to another Canadian pension plan
for the new head of its sizable private equity program.
Martin Longchamps will join CDPQ – Canada’s second-largest
pension fund – Nov. 14. He has been at Public Sector Pension Investment
Board (PSP Investments) where he was managing director, head of origination
and execution, private equity. Longchamps replaces Martin Laguerre, who
held the role the past three years. Laguerre’s plans were not disclosed.
Private equity is CDPQ’s third-largest segment, accounting for CA$83 billion (US$60.8
billion) of its CA$392 billion (US$286 billion) portfolio as of June 30. Fixed
income was the largest at CA$129 billion (US$94 billion). Equities was just
behind at CA$119 billion (US$87 billion).
Private equity was PSP’s best-performing sector for the fiscal year ended March
31, generating a gain of 27.6%.
Longchamps’ background also includes roles with Transcontinental, Edgestone
Capital Partners and CDP Capital Communications, which was previously a CDPQ
subsidiary.
In a statement, Charles Emond, CDPQ’s president and CEO, said that
Longchamps’ “experience in the institutional and private sectors, in all stages
of the investment cycle and aspects of asset management, will be an asset.”
CDPQ invests on behalf of more than 45 pension and insurance plans for 6
million Quebec residents.