In brief: Multi-asset-class ‘sustainability’ FoF piques CDPQ’s interest

CDPQ, the Desjardins Group and Fondaction Asset Management are among the investors interested in a newly-launched “ESG and sustainability” multi-asset-class fund-of-funds. The Investi Fund, managed by investment adviser Innocap, is targeting C$1 billion ($736 million; €690 million).

It will invest with “several established asset managers specialising in ESG and sustainable finance” across private markets, public equities, fixed income and hedge funds, according to a statement published by CDPQ. The Investi Fund also has a local development objective: asset managers should have an investment team in Quebec or plans to establish one.

Other investors that have expressed interest in committing to the Investi Fund include: National Bank Investments, Bâtirente, Beneva, the Fonds de solidarité FTQ, the Trottier Family Foundation, Optimum Financial Group and the Samara Family Office.

A growing number of sustainability-focused and impact funds are taking the multi-asset-class approach: Partners Group is planning an evergreen vehicle covering private equity, infrastructure and private debt; other examples include Brookfield Asset Management’s Global Transition Fund; Just Climate, the climate-first platform established by Generation Investment Management; Schroders’ and Blackrock’s LTAFs; Bridges; Mirova and Aavishkar.