It was established in 1965 by an act of the National Assembly, under the government of Jean Lesage, as part of the Quiet Revolution, a period of social and political change in Quebec.
It is one of the largest and most diversified institutional investors in the world, investing in sectors including private equity, fixed income, real estate, infrastructure, and renewable energy, in Canada and abroad.
It has also acquired or partnered with several subsidiaries, such as Ivanhoé Cambridge (real estate), CDPQ Infra (infrastructure), and Otéra Capital (financing).
The CDPQ was established by an act of the National Assembly on July 15, 1965, under the government of Jean Lesage, as part of the Quiet Revolution, a period of social and political change in Quebec.
In its early years, the CDPQ focused on building a bond portfolio that included predominantly Quebec government and Hydro-Québec securities.
It also acquired its first office building, Place Delta in Sainte-Foy, in 1980,[7] and its first international real estate acquisition, Centre de conférence Albert-Borschette in Brussels, in 1993.
Following the crisis, the CDPQ adopted a series of measures to increase its effectiveness, refocus on its core competencies, and strengthen its risk management in order to better sustain long-term yields.
Otéra Capital offers innovative financing solutions for various real estate sectors, such as office, retail, industrial, multifamily, hospitality, and seniors' housing.
In a September 28, 2021, press release, the CDPQ announced its 2021 climate strategy, which included divesting the remaining $3.9 billion currently held in oil company assets, which represented 1% of its investment portfolio, by 2022.
"[16] As of June 30, 2023, the CDPQ managed assets of C$424 billion, invested in sectors such as private equity, fixed income, real estate, infrastructure, and renewable energy in Canada and elsewhere.
[20] CDPQ has expanded its global presence by opening offices in key markets such as New York, London, Singapore, Mexico City, São Paulo, Paris, New Delhi, and Sydney.
[21] The Réseau express métropolitain (REM) is a public infrastructure project in greater Montréal that was proposed by the CDPQ at the request of the government of Quebec.
The REM is the first project of CDPQ Infra, which owns and operates the fully electric and automated light rail system that will serve Greater Montréal.
CDPQ Infra is responsible for all aspects of the REM, from design and construction to financing and maintenance, as well as the procurement of rolling stock and systems.
[23] The REM project has several expected outcomes, including improving the mobility of commuters, reducing greenhouse gas emissions, creating thousands of jobs, supporting the development of electric transportation, and stimulating economic and real estate growth.
The CDPQ was part of a consortium that developed and operated the Canada Line, a public transit infrastructure project in Metro Vancouver.
[26] It has become an important part of the Greater Vancouver transit system, facilitating the movement of people and goods while contributing to the region’s sustainable growth and development.
[53] It offers various financing options for different real estate sectors, including office, industrial, retail, multi-family, hospitality, and seniors' housing.
Otéra Capital also has a strong commitment to environmental, social, and governance (ESG) principles and has recently granted its first green loan to a sustainable office building project in Toronto.
[citation needed] On March 8, 2017, General Electric said it had agreed to sell GE Water for around US$3.4 billion to Suez Environnement in France and the CDPQ.
[70] The holding of Allied Universal by the CQDP became more of a problem after the company acquired G4S, a firm that has been implicated in many controversies that led most public pension funds to divest from it.