Caisse de Depot et Placement du Quebec, Montreal, outsourced management of all its direct private equityinvestments, said Lucie Freniere, spokeswoman. The investment unit of the C$89.4 billion (US$73.1 billion) pension plan hired VantagePoint Venture Partners, SAM Private Equity and AXA Private Equity to manage 42 biotechnology, information technology and industrial technology investments worth a total of C$240 million. Ms. Freniere said GeneChem and Propulsion, two Montreal-based managers, will handle a combined C$46 million that the Caisse previously invested directly.
Separately, the Caisse's investment unit agreed to commit C$125 million to a new VantagePoint fund and C$55 million to a new ProQuest fund; both private equity funds have yet to be funded, Ms. Freniere said. Ernst & Young assisted.
