CDPQ to merge with Ivanhoé Cambridge and Otéra Capital.

CDPQ, an institutional investor that manages several public and parapublic pension plans and insurance programs in Quebec, agreed to merge with Ivanhoé Cambridge, a real estate investment firm, and Otéra Capital, a real estate investment firm. Financial terms were not disclosed. "This integration stems from a vision of an integrated CDPQ that maximizes its impact and performance to offer our depositors the best service for the most efficient cost. It allows us to further leverage our subsidiaries' deep real estate expertise and the best talent in corporate services from all three organizations to execute our strategy and position CDPQ well for the future. We want to work as one team—one CDPQ—and build on the unique know-how of our talent to create value for our depositors," Charles Emond, CDPQ President and CEO.