MONTREAL, March 11, 2014 /CNW Telbec/ - La Caisse de dépôt et placement
du Québec today announced $8 million in funding to BFL CANADA, Canada's
largest independent commercial insurance broker.
Through this funding, BFL CANADA will be in a position to continue
growing, particularly through acquisitions. With its head office in
Montréal, BFL CANADA has close to 500 employees working in 10 offices
"With this additional long-term capital, BFL CANADA will be able to
continue on its growth trajectory, thereby reaffirming its position as
a leader in the Canadian brokerage industry," said Normand Provost,
Executive Vice-President, Private Equity, at La Caisse. "With this
funding, we are supporting a company that capitalizes on innovative
partnership practices to succeed in a competitive market."
"We are very pleased to be able to count on La Caisse's support to speed
up our growth," said Barry F. Lorenzetti, President, CEO and Founder of
BFL CANADA. "La Caisse understands our solid business model and BFL
CANADA's leadership role in Montréal's financial centre. We are looking
forward to pursuing growth with a partner like La Caisse."
The company stands out for its business model, which attracts the best
employees in the industry by enabling them to become company
shareholders. This ownership model, combined with BFL CANADA's
demonstrated expertise in assessing and mitigating risks, has made it
the third largest commercial insurance broker in Canada.
ABOUT BFL CANADA
Founded in 1987 by Barry F. Lorenzetti, BFL CANADA is the largest
employee-owned and operated risk management, insurance brokerage and
employee benefits services firm in Canada. The firm has a team of close
to 500 professionals located in nine cities across the country. BFL
CANADA is a founding partner of Lockton Global LLP, a partnership of
independent insurance brokers and agents who provide risk management,
insurance and benefits consulting services in over 120 countries around
the world. For more information: bflcanada.ca.
ABOUT LA CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
La 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, 2013, it held $200.1 billion in net
assets. As one of Canada's leading institutional fund managers, La
Caisse invests in major financial markets, private equity,
infrastructure and real estate, globally. For more information: www.lacaisse.com.
SOURCE: Caisse de dépôt et placement du Québec
For further information:
Executive Vice-president and CFO
Caisse de dépôt et placement du Québec
Senior Adviser, Media Relations