Caisse de dépôt et placement du Québec (CDPQ) invests $250 million in Avison Young to fuel growth and global expansion strategy23 Jul 2018
Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s leading institutional fund managers, has made a $250-million preferred equity investment to accelerate Avison Young’s strategic growth plan.
Avison Young will use the proceeds to invest in acquisitions and the recruitment of key professionals, fuelling the company’s ongoing growth of its global footprint and service-line capabilities. In addition, a portion of the proceeds will be used to repurchase the shares held by the firm’s current private equity partner, Parallel49 Equity (formerly known as Tricor Pacific Capital Inc.), as well as shares of certain other non-management founders and former Principals of Avison Young.
Mark E. Rose, Chair and CEO of Avison Young, comments: “We look forward to a collaborative relationship with CDPQ and its large global network, and benefitting from the ability to share expertise, deal flow, market intelligence and resources as we continue to grow our business across the spectrum of commercial real estate services in North America and other key markets globally.”
Read the full story here.