By Staff
The $343B (C$473B) Caisse de dépôt et placement du Quebec is investing $650M (C$903M) in Denver, Co.-based energy-as-a-service (EaaS) provider Redaptive.
According to a press release, the CDPQ’s investment was facilitated through the $1.3T Nuveen, the investment manager of TIAA. The investment will enable Redaptive to continue supporting its enterprise customers with data-driven efficiency and energy generation programs, including HVAC, LED lighting, solar, storage and metering solutions, and other upgrades that can be deployed at large-scale multi-site portfolios. It will also enable the EaaS company to expand its reach, increase project deployments, and further develop its solutions across the U.S., Canada, and some European jurisdictions.
CDPQ is also leading a $116M (C$160M) investment round, in partnership with the Fonds de solidarité FTQ and Investissement Québec, to Germain Hotels.
The hotelier has merged entities Groupe Germain Inc. and Alt Canada Investment Corp. SEC into a single investment organization, now operating as Germain Hotels, according to a separate news release. It noted the commitment to Germain Hotels will help enable the organization to accelerate its development across Canada and consolidate its network of properties.
For nearly 15 years, CDPQ has played a major role in supporting Germain Hotels at three key moments in its expansion across Canada,” said Kim Thomassin, the pension fund’s executive vice-president and head of Quebec, in a press release. “By leading this new round of financing, we continue to stimulate the growth of a Quebec company with a distinctive business model. Our aim is to sustain Germain Hotels’ success over the long term and reinforce its leadership in the Canadian hotel market.”
Indeed, in February, CDPQ announced a program that would steer capital toward Quebec companies launching projects that increase productivity or strategically pivot to new markets. The move came on the heels of U.S. President Donald J. Trump’s decision earlier this year to impose tariffs on Canadian goods crossing the border into the U.S.
“We must take the current context as a call to action and use it to mobilize like never before,” said Charles Emond, the Caisse’s president and chief executive officer, in a press release. “Whether or not the tariffs materialize, it’s time to leverage all the know-how of our companies to drive Quebec forward. CDPQ will be there to finance productivity-boosting projects and help companies diversify their markets.”
