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.