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Caisse reorganizes infrastructure, private equity units under new leaders

Macky Tall/Roland Lescure
Macky Tall, left, and Roland Lescure

Macky Tall was named executive vice president of the C$248 billion ($193 billion) Caisse de Depot et Placement du Quebec, Montreal, and CEO of CDPQ Infra, Caisse's infrastructure investment unit, Caisse said in a news release.

Also, Roland Lescure, Caisse executive vice president and chief investment officer, was placed in charge of Caisse's private equity investments. Mr. Lescure will continue to oversee Caisse's public equity and fixed-income investments.

Mr. Tall's position is new. He was senior vice president, infrastructure and private equity, and president and managing director of CDPQ Infra, which was created last July. Mr. Tall will retain the infrastructure and CDPQ president positions.

The appointments come after Andreas Beroutsos, Caisse executive vice president, private equity and infrastructure, announced April 15 that he was leaving the post.

Spokesman Maxime Chagnon said Caisse began work on the changes to its organizational model several months ago. Mr. Beroutsos' departure had no bearing on the reorganization. "A change to our organizational model would have happened anyway," Mr. Chagnon said.

Separately, Jean Michel, executive vice president, advisory services to depositors and strategic analysis, will lead a new division that will coordinate and advise Caisse clients on portfolio research and advisory services.

Mr. Michel, who joined Caisse last month from Air Canada, Montreal, where he oversaw C$17.5 billion in assets as president, pension investments, will head the new division of depositors and total portfolio construction.

Caisse manages assets for provincial public pension fund clients and other provincial agencies in Quebec. As of Dec. 31, Caisse had 37% of total assets in public equity, 35% in fixed income, 10% in private equity, 10% in real estate, 5% in infrastructure, and the remainder in overlays and asset allocation strategies.