CANADA - The C$122.2bn Caisse de dépôt et placement du Québec (Caisse) is set to purchase a $9m equity interest in Immunotec Research, a marketer of health products.
The pension fund made the purchase - expected to take place in December - from two of the company’s principal shareholders. As at December 31, 2005, the Caisse's private equity portfolios held $10.9bn of net assets.
Immunotec is also in the process of finalising a reverse take-over transaction with Magistral Biotech, which will see the company publicly listed on the TSX Venture Exchange.
In earlier news, it was revealed that the Caisse was involved in a consortium of investors to make a ZAR8.3bn (US$1.1bn) offer for Alexander Forbes.
The offer comes after Alexander Forbes, South Africa's biggest pension consultancy firm, was under scrutiny for its involvement in a scandal concerning the bulking of client money.
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.