Our history

CDPQ has evolved and grown considerably since its creation in 1965. Today, it takes a long-term perspective towards investing its clients' funds around the world. Discover our history.

true
false
false

See the video

CDPQ, celebrating half a century
Video produced for the 50th anniversary of CDPQ, on July 15, 2015.

1965-1974
The early years

true
false
false
1965
  • CDPQ is created by a law passed in the National Assembly of Québec
  • Initial role: to manage the funds of the Québec Pension Plan, a newly-created universal retirement plan
1966
  • First deposit by its first client: the Québec Pension Plan
  • First transaction: the purchase of bonds issued by the International Bank for Reconstruction and Development
  • Establishment of a bond portfolio that includes predominantly Québec government and Hydro-Québec securities
1967
  • First equity investment: Alcan Aluminium
  • First commercial mortgage loans
1971
  • Creation of the private investments portfolio which includes investments in Québec companies
1974
  • Management of the largest portfolio of Canadian equities in the country, which includes holdings in 155 companies

1975-1984
Entry into international markets and the real estate sector

true
false
false
1980
  • Net assets exceed $10 billion
  • Acquisition of a first office building, Place Delta in Sainte-Foy
1983
  • First transactions in global equities exchanges
1984
  • First international private equity investment: Compagnie financière Martin Maurel, in France

1985-1994
Diversification of the real estate portfolio

true
false
false
1989
  • Acquisition of the real estate assets of the Steinberg grocery chain
  • Ivanhoé, the new real estate subsidiary, owns and manages primarily shopping centers
1993
  • First international real estate acquisition: Centre de conférence Albert-Borschette in Brussels
1994
  • Net assets surpass $50 billion

1995-2004
Accelerating pace of growth and expansion

true
false
false
1996
  • CDPQ real estate group becomes the largest owner of real estate properties in Québec and the second largest in Canada
1997
  • A legislative change raises the allowable equity allocation to 70% of the portfolio’s assets, from 40%
1999
  • CDPQ moves into infrastructure investment with the construction of Highway 407 in Toronto
2001
  • Ivanhoé and Cambridge Shopping Centres are merged to create Ivanhoé Cambridge
2003
  • CDPQ obtains the top short-term and long-term credit ratings from the main rating agencies
2004
  • Net assets exceed $100 billion
  • CDPQ adopts a responsible investing policy

2005-2014
A course change towards the long-term

true
false
false
2006
  • CDPQ signs the UN’s Principles for Responsible Investment
2008
  • CDPQ faces the worst financial crisis since the stock market crash of 1929
2009
  • Following the crisis, CDPQ adopts a series of measures to increase its effectiveness, to refocus on its core competencies and to strengthen its risk management in order to better sustain long-term yields.
  • CDPQ launches a major plan to support Québec businesses
2011
  • All real estate subsidiaries are combined under one banner: Ivanhoé Cambridge
2013
  • The Global Quality Equity Portfolio is created
  • This portfolio is managed through a new investment philosophy which favours total returns, in-depth research, and investments in high quality assets, anchored in the real economy
2014
  • New international offices are opened to take advantage of the best global investment opportunities

2015-2016
Increased international expansion and tangible assets

true
false
false
2015
  • CDPQ Infra is created as a new subsidiary that focuses on the design, financing, development and operation of infrastructure projects
  • To mark its 50th anniversary in a permanent way, CDPQ creates Espace CDPQ, an investment and development hub for entrepreneurs
2016
  • CDPQ Infra proposes an electric, public transit project for the Greater Montréal area
  • The REM network, a light rail system, promises 67 kilometers of track, linking downtown Montréal to the South Shore, North Shore, West Island and the international airport
  • Investments in Mexico and India