Key Takeaways
- • Caisse de Depot et Placement du Quebec (CDPQ) is exploring the sale of as much as $2 billion in private equity assets in the secondary market, according to people familiar with the matter.
- • The sale is intended to free up cash for other investments, per the sources cited by Bloomberg.
- • CDPQ, described as Canada's second-largest pension manager, is still sounding out the market and may sell only a smaller stake or no assets at all, depending on price.
- • Evercore Inc. is advising CDPQ on the potential transaction.
Summary
Caisse de Depot et Placement du Quebec is exploring the sale of as much as $2 billion of private equity assets in the secondary market, according to people familiar with the matter, as reported by Bloomberg. The proceeds would be used to free up cash for other investments.
Canada's second-largest pension manager is currently scouting the market, and the process remains preliminary. The sources said CDPQ may ultimately sell a smaller stake than the full $2 billion, or may not sell at all, with the decision dependent on the price it can obtain. The sources asked not to be identified because they were discussing confidential matters.
Evercore Inc. is advising on the potential sale, according to the same people. The report does not identify the specific private equity holdings under consideration or the buyers being approached.
Canada's second-largest pension manager is currently scouting the market, and the process remains preliminary. The sources said CDPQ may ultimately sell a smaller stake than the full $2 billion, or may not sell at all, with the decision dependent on the price it can obtain. The sources asked not to be identified because they were discussing confidential matters.
Evercore Inc. is advising on the potential sale, according to the same people. The report does not identify the specific private equity holdings under consideration or the buyers being approached.
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