Caisse de Depot et Placement du Quebec, Montreal, and Claridge, the family investment office of the Bronfman family, are creating a joint venture to invest in Israel’s civil technology.
Financial and investment terms of the private equity joint venture, called Claridge CDPQ Israel, were not disclosed, said Jean-Benoit Houde, Caisse spokesman.
The joint venture will be based in Tel Aviv. Oded Tal, who was chief investment officer at Claridge from 2000 to 2008 and most recently was managing director and head of mergers and acquisitions for investment bank Leumi Partners, will lead the joint venture. His exact title at the firm has not been determined.
Andreas Beroutsos, Caisse’s executive vice president of private equity and infrastructure, said Claridge CDPQ Israel provides “a globally recognized hub for innovation” that will benefit both established Israel-based technology firms and Caisse depositors.
Caisse managed C$214.7 billion (US$170 billion) in provincial pension and other assets as of June 30.
Claridge manages assets of the Bronfman family, which owned Seagram Co. Ltd. from 1928 to 2000.