Annual Report 2018 (CDPQ)

Summary

• CDPQ delivered a 4.2% return in 2018, with net investment results of $11.8 billion.p.7
• The five-year annualized return was 8.4%, with net investment results of $98.7 billion.p.7
• The ten-year annualized return was 9.2%, with net investment results of $171.6 billion.p.7
• Ivanhoé Cambridge and Prologis announced investments of US$890 million to acquire, develop and operate logistics properties in Brazil.p.9
• CDPQ created a US$3 billion sustainable investment partnership with Generation Investment Management, with FNZ as its first acquisition.p.9
• CDPQ's portfolio carbon intensity fell 10%, towards its target of a 25% reduction by 2025.p.11

Key insights

1. DBRS, Standard & Poor's and Moody's maintained the highest AAA credit ratings for CDPQ and CDP Financière.p.7
2. CDPQ and Colombian pension funds launched an infrastructure co-investment platform with long-term investments of up to US$1 billion.p.9
3. CDPQ has been a partner of Ardian in private equity since 2006.p.9
4. CDPQ holds more than $10 billion in low-carbon assets, exceeding and then raising its 2020 target.p.11
5. The Investor Leadership Network brings together 12 members representing more than $6,000 billion in assets under management.p.11