CDPQ has hired Antoine Reze to join its infrastructure group, said two sources close to the situation.
Previously, Reze served as director for 10 years in Scotiabank’s US and Latin America global infrastructure group.
During his tenure at the Toronto-based bank, Reze worked in the same group as Michael J. Uhouse, who recently left as part of a broader shakeup of senior management. Reze’s departure was not part of the senior shakeup, a source said.
CDPQ’s infrastructure group controls roughly CAD 22.7bn (USD 17.03bn), or 7.3%, of the pension giant’s total assets under management as of 31 December, according to public documents. The company’s dominant investment regions are the US (31.3%) and Europe (26.3%), while the other regions are Canada, Australia and growth markets, according to its website.
The group is run by Rana Ghorayeb and Emmanuel Jaclot.
In the 4Q18, CDPQ increased its stake in Invenergy Renewable, a major private renewable energy company in North America, and Azure Power Global, an Indian solar energy producer. It also acquired a 40% stake in energy producer CLP India. In Mexico, it also acquired 80% of a portfolio of eight wind and solar parks owned by Enel Green Power.
CDPQ declined comment on the situation. Scotia and Reze could not be reached for comment.