On Thursday, the Financial Times reported that Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec (CDPQ), will close its Shanghai office and stop conducting private deals in China.
The report said CDPQ is driving regional investment initiatives from Singapore and still has business interests in China.
We’ve halted private investments and focused on liquid markets, most of our 2% portfolio exposure to China. “We expect this trend to continue,” CDPQ told the publication.
Reuters requested comment from CDPQ.
According to the Financial Times, Singapore’s national wealth fund GIC cut private China investments in February. Ontario Teachers’ Pension Plan (OTPP), Canada’s third-largest pension fund, similarly terminated its Hong Kong-based China equity investing team in April.