CANADA - The C$122bn Caisse de dépôt et placement du Québec and private investment firm Trio Capital have created a US$200m fund to target telecommunications and new media investment opportunities.
The Telecom Media Fund will be invested over the next three years and be managed by Trio Capital, who also to put forward part of the initial investment.
The Fund will target both North American and European companies, and aims increase its capital to US$400m in the medium term.
A first investment in mobile phone content firm Cellfish Media was also made in conjunction with the Fund's launch.
The investment was made in partnership with another private investor and worth $US50m, of which US$40m came from the Telecom Media Fund.
Dave Brochet, VP of investments telecommunications and media at the Caisse described the telecommunications and media industry as "one of the fastest growing industries in the world”.
“This new Fund will enable the Caisse to take a complementary position in a highly coveted sector," he said.
The Caisse's private equity portfolios held $10.9bn of net assets as at end 2005.
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AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.