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Canadian pension fund CDPQ puts brakes on China investment – FT
Canadian pension fund CDPQ puts brakes on China investment – FT By Reuters
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Published Jun 01, 2023 01:09AM ET
Updated Jun 01, 2023 07:26AM ET
(C) Reuters. FILE PHOTO: The Caisse de depot et placement du Quebec (CDPQ) building is seen in Montreal, Canada February 26, 2014. REUTERS/Christinne Muschi
(Reuters) -Canada’s second-largest pension fund Caisse de d?p?t et placement du Qu?bec (CDPQ) has stopped making private deals in China and will close its Shanghai office later this year, the Financial Times reported on Thursday, citing people familiar with the matter.
CDPQ is currently leading its regional investment efforts from Singapore, the report said, adding that it still has business interests in China.
“We paused private investments for some time already — and have focused on liquid markets, which is the majority of our two per cent total portfolio exposure to China. We expect this trend to continue,” CDPQ told the newspaper in a statement.
CDPQ confirmed that the Shanghai office would close later this year, but declined to comment beyond what was included in the Financial Times report.
The Financial Times in February reported that Singapore’s sovereign wealth fund GIC has reduced private investments in China.
Earlier in April, Canada’s third largest pension fund Ontario Teachers’ Pension Plan (OTPP) also closed down its China equity investment team based in Hong Kong.
Canadian pension fund CDPQ puts brakes on China investment – FT
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