Caisse de Depot et Placement du Quebec, Montreal, plans to open new offices in Washington, Mexico and Singapore in the next five years as part of an effort to become a more global organization.
The plan to expand globally was revealed by Michael Sabia, president and CEO, in a speech at the Montreal Council on Foreign Relations on Monday, according to a news release.
Caisse manages C$200.1 billion (US$182.3 billion) in assets for provincial, municipal and other pension funds in Quebec as well as other provincial entities.
“It is our responsibility to go out and seek returns where they are and serve as a bridge to the world for Quebec's economy,” Mr. Sabia said in the news release. “This will be one of the cornerstones of everything we do over the next five years.”
Beyond opening the new offices, Mr. Sabia said Caisse plans to further expand its existing New York office, and that Singapore will act as the hub for Caisse in Asia. He said Caisse hopes in the future to open offices in Mumbai and Sydney.
Spokesman Maxime Chagnon was not available to provide further information by press time.