MONTREAL, April 22 /CNW Telbec/ - The Caisse de dépôt et placement du
Québec stated today that its private equity investment in Gesca Ltée, referred
to on page 65 of its Annual Report, is a variable-rate loan repayable at the
borrower's discretion and administered by a banking syndicate consisting of
three banks and the Caisse.
The Caisse has been one of Gesca's lenders since January 31, 2001, the
date of the first transaction of this kind with the company and other lenders.
The last loan was made in April 2007.
The Caisse is involved in dozens of loans of this kind with as many
companies. Like all other variable-rate loans repayable at the borrower's
discretion, this one is a private equity investment of an undisclosed amount.
The Caisse would like to point out that the portfolio managers have the
leeway to make a loan of this type without authorization from Caisse senior
The Caisse would like to reiterate that Henri-Paul Rousseau was appointed
President and Chief Executive Officer of the Caisse by the Québec government
on May 30, 2002, and stepped down on May 30, 2008. He remained an adviser to
senior management until August 31, 2008.
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. As at December 31, 2008, it held $120.1 billion of net assets. As one
of the leading institutional fund managers in Canada, the Caisse invests in
the main financial markets as well as in private equity and real estate. For
more information: www.lacaisse.com.
For further information:
For further information: Maxime Chagnon, (514) 847-5493