Quebec pension creates new real asset/private equity unit

The Caisse de depot et placement du Quebec (CDPQ) appointed Macky Tall as head of real assets and private equity - a new investment business unit for the C$340 billion (US$241 billion) pension. “With these appointments and changes to our structure, we can fully leverage the talent of our people,” said Charles Emond, president and chief executive officer of CDPQ. “Regrouping our teams within strong business units will increase our efficiency and ability to seize more opportunities.” Through various roles at CDPQ, Tall has build strong and lasting connections with the pension system’s business partners, officials said. Tall joined the pension in 2004 as director of investment for the infrastructure program which he built up to total more the US$20 billion with a focus on strategic partnerships. He has globally positioned CDPQ’s infrastructure activities and strengthened the fund’s operational expertise in liquid markets. He is remains president and chief executive officer of CDPQ Infra, a CDPQ subsidiary whose mandate is to plan, execute and operate public infrastructure projects. CDPQ Infra is currently implementing the largest public transit project – the Réseau express métropolitain (REM) – in the Greater Montréal in the last 50 years. In his new position, Tall is responsible for the international private equity, infrastructure and capital solutions team. Overall, CDPQ has more than US$55 billion in private equity and infrastructure investments. Another US$28 billion in real estate rounds out the real asset portfolio. He is also appointed chairman of the board of directors of Ivanhoe Cambridge, which will provide him with a broad perspective on CDPQ’s real assets activities, including real estate, where the portfolio’s repositioning is already underway under the leadership of Nathalie Palladitcheff, president and chief executive officer of the real estate subsidiary. A search process has been launched to recruit a replacement for Tall as head of liquid markets.

Quebec pension creates new real asset/private equity unit

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