Caisse de Depot Looking for Infrastructure, Real Estate AssetsJeremy van Loon
Caisse de Depot et Placement du Quebec, Canada’s second-largest pension-fund manager by assets, is looking for infrastructure and real-estate assets, Chief Executive Officer Michael Sabia said.
“Around the world today we’re looking for great infrastructure, we’re looking for great real estate,” Sabia said today in an interview with Bloomberg TV. “For an investor like us, we’re interested in these assets over a 10 to 15 year period.”
Manhattan is an example of a real-estate market that appreciates steadily in the long term even if temporarily affected by periods of economic slowdown, he said.
The Caisse oversees pensions for retirees in the French-speaking province of Quebec, with a dual mandate to maximize returns and foster economic growth.
Infrastructure -- an investment category that includes airports and gas distribution networks for the pension fund -- returned 11 percent for the Caisse in 2013.