Canadian pension fund Caisse de dépôt et placement du Québec said on Thursday it is setting up a partnership with Energize Ventures, a global alternative investment manager, that will invest $125 million over three years in clean technologies.
The investment partnership will focus on digital innovations that can transform the energy and sustainable industry sectors, and the two companies will pool knowledge on climate investments.
“As part of its long-standing commitment to invest in solutions that address climate change, Caisse is leveraging opportunities with strategic partners to direct more capital towards innovative investments and sustainability initiatives,” said Mario Therrien, Head of Investment Funds at Caisse.
Geneviève Bouthillier, a managing director at Caisse, told Reuters the partnership would be a “jump start” and enable the pension fund to benefit from Energize’s expertise.
Caisse is one of Canada’s largest pension funds with $365.5 billion in assets under management. It is seeking to decarbonize its investment portfolios and achieve net-zero emissions by 2050.
Last December, Caisse said it would invest $1 billion in Invenergy Renewables LLC, the largest private developer, owner and operator of wind and solar projects in North America.
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