Caisse de dépôt et placement du Québec and Desjardins Group, in collaboration with Capital régional et coopératif Desjardins, join forces to invest $600 million in Québec SMBs
Funds to be used for growth and development of promising small and mid-sized businesses over the next three years
The purpose of this agreement is to provide support for SMBs so they can undertake projects with good profitability prospects, such as expansions, research and development, acquisitions and optimization of productivity. With their long-standing experience of cooperation in this field, Desjardins Group and the Caisse plan to set up an effective and diligent decision-making process to respond to financing requests from SMBs.
"Our economic vitality is predicated largely on the dynamism and capacity for innovation of businesses in all regions of Québec," said Monique F. Leroux, Chair of the Board, President and CEO of Desjardins Group. "We're pleased to join forces with the Caisse de dépôt et placement du Québec to further stimulate the Québec economy, with a view to sustainable prosperity."
"This agreement supplements the efforts the Caisse is already making to back promising Québec companies. It will allow us to build on our expertise and our distinctive competitive advantages in Québec to generate returns for our clients, the depositors. We're very proud to team up with Desjardins Group to provide SMBs with an enhanced long-term financing offering, which will enable them to meet the challenges of global markets," said
A two-pronged comprehensive financial offering
The agreement to support Québec SMBs comprises two distinct components: one for small businesses and one for mid-sized businesses.
Support for small businesses ----------------------------
The first component of the agreement, which involves CRCD and the Caisse, targets promising small businesses. The two partners have agreed to set up a
Support for mid-sized businesses --------------------------------
The second component is aimed at providing financing solutions for mid-sized companies that perform well and have good prospects for growth and profitability. The budget allocation for this component will total
Under this agreement, Desjardins Group and the Caisse will allocate
The Caisse and CRCD also plan to invest about
About the Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. At
About Capital régional et coopératif Desjardins
Founded in 2001, Capital régional et coopératif Desjardins is a publicly traded company managed by Desjardins Venture Capital. With over 122,000 shareholders, the Company contributes to Québec's economic development while driving the growth of cooperatives and the resource regions. Capital régional et coopératif Desjardins currently supports more than 200 companies and cooperatives in various industries spanning all Québec regions. (www.capitalregional.com)
Desjardins Group is the largest cooperative financial group in
/NOTE TO PHOTO EDITORS: A photo accompanying this release is available at http://photos.newswire.ca. Images are free to accredited members of the media/For further information: Caisse de dépôt et placement du Québec: Maxime Chagnon, Senior Director, Media and Public Relations, (514) 847-5493; Desjardins Group: André Chapleau, Senior Director, Media Relations, (514) 281-7229, 1-866-866-7000, ext. 7229, email@example.com