Cadim, a real estate subsidiary of Caisse de Depot et Placement du Quebec, committed US$100 million to a new opportunity fund Praedium Group will launch this year, said Francine Gauthier, Caisse spokeswoman. Cadim also bought a stake in Praedium for an undisclosed amount, and expects to commit another US$200 million to Praedium funds over the next year or two. Funding comes from Cadim funds, which makes investments on a regular basis. Caisse, with US$80.4 billion in assets, has four real estate subsidiaries with total assets of US$14.7 billion. Cadim specializes in residential and opportunistic investments. Praedium, which focuses on underperforming and undervalued assets, manages US$2 billion in investments.
Cadim, a real estate subsidiary of Caisse de Depot et Placement du...
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