Caisse de dépôt et placement du Quebec posted a return of 5 percent for the six months ended June 30, beating its benchmark by 0.2 percent, PERE's sister publication, Private Equity International, reported Monday.
The C$286.5 billion ($225 billion; €191 billion) fund manager invests in public and private asset classes.
In a media call to discuss H1 results, president and chief executive officer Michael Sabia noted that five-year results are “very similar” to those posted in February.
He added that CDPQ has made progress in “executing our strategies that always seek opportunities to diversify our sources of returns.” “In the first part of the year we have made much progress,” he said on Friday.
Real assets, which includes real estate and infrastructure, had C$48.6 billion in assets as of June 30. The asset class returned 3.6 percent in H1 2017, below its 4.9 percent return.
In July, CDPQ's real estate arm Ivanhoé Cambridge made its US industrial real estate debut through the purchase of private equity firm TPG's industrial platform for $1 billion, PERE previously reported. Evergreen Industrial Properties has 150 properties in 18 cities.
In H1, Ivanhoé Cambridge also broke ground on two office buildings, one in Toronto with partner Hines and the other in Paris.
– With additional reporting by Meghan Morris.
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