Quebec's giant pension fund, the US$81bn (C$125bn) Caisse de dépôt et placement du Québec (CDP), has made a US$2.5m venture capital investment in Micro-Optics Design.
The investment, made through CDP subsidiaries CDP Sofinov and CDP Accès Capital Acadie, brings CDP's total investment since May 2000 to US$6m. In addition to CDP's US$2.5m, Micro-Optics has also raised an extra US$2m from the Business Development Bank of Canada's (BDC) venture capital division and ACF Equity Atlantic.
Micro-Optics develops and markets technology for the automated manufacture of prescription eyeglass lenses.
By Geoffrey Ho
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.