CDPQ

“Which for us, you know, we, we're, Targeting just a little north of six percent for our clients.”

“Patience in, in the context of a pension plan Is, is being able to sort of shy away from, you know, the fads, shy away from sort of the trends, the momentum that can build up into sectors, into some stocks. Patience also means what? Means underperform. Underpe…”

“We work with about sixty-ish external managers in six different type of strategies, I would say, from hedge funds to value investing to relational investing to sovereign debt.”

“So we build up from zero to five billion dollars in about three years. We are multi-manager platform.”

“Which I think is, is a big change from the past where research was important, but today it's like, I think it's an edge. It's one of the superpower that we have, I believe.”

“Essentially, my role today is I run a group of 19 people, and we are in charge of all of the allocations within external managers. From long-only equity, emerging markets, edge funds, sovereign debt, so different types of strategies, everything that's involved…”

“In order for us to be a better evaluator of talent, we have transitioned a big part of our program in edge funds onto managed account platforms.”

“The problem we've had in the last 15 years really is the whole rate structure fell, which brought sort of the two 20, not no longer the right fee structure.”

“From our standpoint, one of the variation that we brought, which is in parallel to what Luke said, was the fee structure, which is X or Y. So we pay 1.5 or 15%, depending, instead of 1.5 and 15%, which actually helps us capture the portion of the alpha that's …”

“Everything that we do at CDPQ with our external funds, which covers about forty five billion dollars Canadian, which is about close to 15% of total assets of CDPQ, and that covers about a 130 different GPs around the world.”

“For us, it became very important to calibrate well here because we have an overlay program. It's not a funded program. So we use our balance sheet to invest in hedge funds.”