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Quebec’s Caisse appoints PSP’s Longchamps as PE head

Martin Longchamps has been appointed as the new head of private equity at Canadian pension fund Caisse de Depot et Placement du Quebec. Longchamps joins from the Public Sector Pension Investment Board where he was managing director of private equity.

Longchamps, who will be based in Caisse’s head office in Montreal, succeeds New York-based Martin Laguerre, who had been in the role for less than two years. 

Caisse de Depot’s private equity portfolio, which was worth CAD82.5 billion ($60.1 billion), or nearly 20% of CDPQ’s assets under management, at the end of last year, posted a 39.2% return in 2021 amid buoyant markets and strong performance in technology and health care. About a quarter of the pension fund’s private holdings are in technology and telecommunications, including software firm Druva and technology services firm Wizeline.

Not all of the fund’s PE investments have worked out with a $150 million investment in cryptocurrency lender Celsius Network, which was made a bout a year ago, now north nothing after the company filed for bankruptcy.

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