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
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.