(Reuters) – Canada’s second-largest pension fund Caisse de dépôt et placement du Québec (CDPQ) has stopped making private deals in China and will close its Shanghai office later this year, the Financial Times reported on Thursday, citing people familiar with the matter.
CDPQ is currently leading its regional investment efforts from Singapore, the report said, adding that it still has business interests in China.
“We paused private investments for some time already — and have focused on liquid markets, which is the majority of our two per cent total portfolio exposure to China. We expect this trend to continue,” CDPQ told the newspaper in a statement.
CDPQ did not immediately respond to a Reuters request for comment.
The Financial Times in February reported that Singapore’s sovereign wealth fund GIC has reduced private investments in China. Earlier in April, Canada’s third largest pension fund Ontario Teachers’ Pension Plan (OTPP) also closed down its China equity investment team based in Hong Kong.
(Reporting by Nilutpal Timsina in Bengaluru; Editing by Shailesh Kuber)
