Pension giant Caisse goes against the grain with focus on Colombia
One of Canada’s largest pension funds is boosting infrastructure and financial services investments in Colombia, even as other foreign investors have pulled back.
Caisse de dêpôt et Placement du Québec, or CDPQ, Canada’s second-largest pension manager, has committed roughly $4 billion (US$3 billion) in the country since 2017. Colombia is one of five principal emerging countries where CDPQ is focused as it seeks to grow its exposure to Latin America and Asia, said Anita Marangoly George, executive vice president for growth markets.
“In terms of the opportunities, Colombia punches above its weight,” she said in a telephone interview. “The fundamentals of the economy are good and there’s a focus on diversifying from an oil and coffee commodity-based economy to other sectors.”