Caisse de dpt et placement du Qubec

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Caisse de dépôt et placement du Québec

• An overview
• March 8, 2006

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Background

• Founded in July 1965
• Act of Québecs National Assembly
• Initial mandate to manage the assets of the
  Québec pension plan (RRQ)
• Now manages the funds of 19 depositors public
  pension and insurance plans as well as various
  other funds

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Depositors
In percentage as at December 31, 2003
(RREGOP) Government and public employees
retirement plan 34.7 (RRQ) Québec pension plan
fund 21.4 (FARR) Pension plan amortization fund
13.1 (CCQ) Supplemental pension plan for
Québec construction industry employees
8.4 (FSST) Occupational health and safety fund
8.1 (SAAQ) Québec automobileinsurance
corporation 7.4 (RRPE) Pension plan for
management 5.5 Other 1.4
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Asset growth since 1966
In CA billion - as at December 31, 2004
174.7
102.4
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Breakdown of total assets under management
174.7 billion
In Canadian dollars as at December 31, 2004
Caisse
Equity Markets
Fixed Income
AbsoluteReturn
Real Estate
PrivateEquity
Investment Analysis and Optimization
115.9 billion
10.7 billion
48.1 billion
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Asset allocation by asset class
As at December 31st, 2004
Net Assets CA102.4 billion
() Real Estate portfolio is leveraged. It is
represented on a net, pure equity (Caisse
only), basis
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Overall performance by asset class
As at December 31st, 2005

• Performance

• Total Caisse 14.7
• Alternative assets
• Real Estate 26.4
• Private Equity 22.3
• Hedge Funds 8.9

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Private Equity
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A Private Equity Pioneer

• Unique expertise based on 25 years of experience
• 750 transactions over the past five years 16
  billion
• A growing share of the Caisses portfolio
• 124 transactions in 2005 7 billion
• 6.4 billion to be invested in 2006
• Affiliated with the worlds most renowned
  managers

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Investment Philosophy

• Direct investments, co-investments or fund
  investments
• Flexible capital structures
• Long-term investor reinvestment capabilities
• Minority interest lt 30
• Representation on Board of Directors
• External representatives approved by the company

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CDP Capital Private Equity

• Ability to cater to specific needs with
  expertise
• Exposure to all industries traditional and new
  economy at all stages of development (real
  estate excepted)
• Array of equity and debt
• Specialized teams by economic sector
• Quick transaction turnaround
• Large number of seasoned investment resources and
  operational executives to accelerate investment
  decisions
• Access to a partner network

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Diversified products Private Equity

• Financial products adapted to specific financing
  needs
• Common and preferred shares
• Participating and convertible debentures
• Senior debt
• High-yield debt
• Mezzanine loans
• Bridge loans

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Investment category Private Equity
As at December 31st, 2005
CA12.3 billion
Direct CA8.7 billion
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International Coverage Private Equity
As at December 31st, 2005
CA12.3 billion
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The Team

• Over 70 professionals, with solid experience and
  expertise
• Senior executives average of over 20 years of
  experience
• Managers average of over 12 years of experience
• Analysts 5 years of experience and up
• Wide spectrum of industrial sectors
• Corporate finance and financial engineering
• In-depth market knowledge
• Strong track record in direct and co-investments
• Network of operational advisors (former senior
  executives)

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Quick Turnaround Time

• Team synergy
• Expertise in investments and financial products
  in various geographical markets
• Experience in numerous industrial sectors and in
  business operations
• Skilled and seasoned senior executive team
• Cohesive team approach
• Creative financial engineering
• Entrepreneurial approach
• Quick decision-making process

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PVP's structure
Placements privés Normand Provost
Administration
Business Development
Direct
Funds
Debt
Total employees 75
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Conclusion
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BACKGROUND EDUCATION AT LA CAISSE
Statistics
Education
Close to 80 of our employees have a University
diploma.
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A major manager

• Largest Canadian investor on world markets
• One of the largest portfolio managers in North
  America
• One of the worlds 10 largest real estate asset
  managers
• One of Canadas main private equity investors
• Business relations with more than 3,000 companies
  and investment funds around the world

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CDP - Overall return
2003 15.5 2004 12.2 2005 14.7
Weighted average of the returns obtained for each
depositor
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Thank you for your attention!