Caisse de Depot et Placement du Quebec, Montreal, created an infrastructure co-investment fund with the Colombian government and four pension funds in the South American country that's expected to reach $1 billion, according to announcements from CDPQ and the Colombian Ministry of Foreign Affairs.
CDPQ will contribute up to $510 million to the new fund, the news releases said.
The government's national development finance agency and administrators at Colombian pension funds Colfondos, Old Mutual, Porvenir and Proteccion will contribute a combined $490 million, with each contributing 20% of the total, the ministry said in its release.
Infrastructure investments will target renewable and other forms of energy, transportation, social infrastructure, telecommunications, water and basic sanitation, CDPQ and the ministry said.
Officials at CDPQ could not be immediately reached for further details.
CDPQ managed C$308.3 billion ($233.6 billion) in Quebec pension and other public assets as of June 30, of which C$16.2 billion was in infrastructure investments.