Canadian pension fund giant, the C$125bn (US$82bn) Caisse de dépôt et placement du Québec (CDP), has made a C$2m (US$1.3m) investment in Sky High Entertainment, a start up production house that specialises in large-format IMAX films.
CDP's investment, made through its fund management subsidiary CDP Capital Communications, will enable the Quebec City based production house to produce its second film. Sky High say that CDP's funding will allow it to produce more action orientated IMAX films.
Speaking about the pension fund's investment, Pierre Bélanger, president of CDP Capital Communications, said: This investment confirms CDP Capital Communications' intention to increase its presence in the Québec City region, where there are many media and entertainment companies with international potential, as is the case with Sky High Entertainment.
CDP Capital Communications currently has investments in 109 companies in Québec, Canada and world markets. CDP's private-investment subsidiaries hold a combined portfolio valued at approximately C$15bn (US$9.8bn).
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