Institutional investor la Caisse de dépôt et placement du Québec (CDPQ) has announced a major investment in Innocap, a Montréal-based firm offering managed account solutions. The investment has been made through the purchase of share capital and the issuance of a loan.

La Caisse executive vice-president Christian Dubé said the investment allows the firm to boost the development of a financial technology and data analysis company while supporting the transfer of Québec companies.

Innocap offers daily supervision of fund operations, customized risk management services and independent governance. Its business model provides investors with data transparency, including a breakdown of their assets, investment strategy compliance, and centralized monitoring of service providers.

As of October 31 this year, the company and its subsidiaries managed US$5.7 billion in assets for institutional investors, financial institutions and fund managers in North America, Europe and Asia.

“La Caisse’s expertise and international network will help accelerate the deployment of our growth plan and identify new business opportunities. This investment represents an acknowledgment of our team’s expertise and outstanding work,” said François Rivard, president and CEO of Innocap.

The deal is subject to usual closing conditions, including approval by relevant regulatory authorities. It is expected to close in the first quarter of 2018.