Latest news with #Emond
Business Mayor
26-05-2025
- Business
- Business Mayor
Canadian pension giant to invest more than £8bn in UK
Stay informed with free updates Simply sign up to the Pensions industry myFT Digest — delivered directly to your inbox. Canada's second-largest pension fund plans to invest more than £8bn in the UK over the next five years, in a boost to chancellor Rachel Reeves as she seeks external investment to fund big infrastructure projects. Caisse de dépôt et placement du Québec, which manages C$473bn (£254bn) on behalf of 6mn pension savers, planned to increase its allocation to UK assets by 50 per cent over the next five years, the fund's chief executive Charles Emond told the Financial Times in an interview. 'We'd like to be a partner of trust and choice in the UK,' said Emond, adding that the government's plans to increase infrastructure spending were 'a huge opportunity and we'd like to be there in the early stages to see if we can do something'. He added that the UK would be 'top of the list' compared with many other countries in terms of 'willingness, clarity, transparency, deal mode and execution, seriousness and welcoming us . . . from that perspective they stood out and I think real stuff will come out of it'. CDPQ — one of the world's largest infrastructure investors — currently invests C$32bn (£17bn) in the UK, with assets including stakes in Wales-based electricity generator First Hydro Company and London Array Offshore Wind Farm, located in the Thames Estuary. The fund sold its stake in Heathrow airport late last year after owning it for more than 16 years. Emond, who took the reins at CDPQ in 2020, a year after joining from Scotiabank, said he expected the fund's allocation to Europe more broadly to grow from its current level of 15 per cent of the portfolio to as much as 17 per cent, with new investment focused on assets linked to the energy transition. 'In Europe, energy security matters a lot . . . governments have financial constraints . . . that's where private capital like us can come in,' said Emond. The Montreal-based fund's plan to increase investment in the UK, as well as in France and Germany, comes as it is preparing to rebalance assets away from the US, which currently make up around 40 per cent of its portfolio. The 52-year-old chief executive said the fund's US exposure would probably be 'trimmed a little bit' as it was 'at a peak after a decade of outperformance'. But he added it remained the 'deepest, biggest, closest market to us and we will continue to deploy money there'. Recommended CDPQ's plan to invest more in Britain comes as 17 of the UK's largest defined contribution pension providers have pledged to invest at least 5 per cent of assets in their default funds in British private markets by the end of the decade, a move the government hopes will drive £25bn of investment into the UK. Emond said this commitment from UK pension funds could create a 'positive synergy' and help attract more overseas investment into the UK. He said CDPQ was keen to invest alongside British retirement funds as 'like-minded partners' with local knowledge. The fund currently has C$25bn in France — its second-largest market in Europe — which Emond also expects to increase by 50 per cent by the end of the decade. He added he was investing 'time and effort' in exploring opportunities in Germany, with the country's energy needs and loosened fiscal rules ushering in 'a new beginning there with plenty of opportunities'.
Business Wire
13-05-2025
- Business
- Business Wire
AppDirect Appoints Carl Emond as the General Manager of ITCloud
MONTRÉAL--(BUSINESS WIRE)-- AppDirect, the world's leading B2B commerce platform, today announced the appointment of Carl Emond as General Manager of ITCloud. Emond succeeds ITCloud founder Mirco Cristoni, who is retiring after nearly 30 years of dedicated leadership and innovation. 'ITCloud has always been the leader in highly technical support and training for partners — values that align perfectly with my vision for IT in the SMB sector,' said Emond. Since joining the company in 2018, Emond has been a cornerstone of ITCloud's growth, particularly following its acquisition by AppDirect. With a strong technical background and a deep understanding of partner needs, Emond brings a unique blend of expertise and passion to his new role. As General Manager, he will spearhead key initiatives focused on enhancing partner enablement and support, evolving the ITCloud platform to meet the ever-changing requirements of managed service providers, and broadening the company's portfolio of cloud solutions. 'ITCloud has always been the leader in highly technical support and training for partners — values that align perfectly with my vision for IT in the SMB sector,' said Emond. 'Having worked closely with our partners over the past seven years, I understand their challenges firsthand. My focus as General Manager is to ensure ITCloud remains the most trusted and innovative partner in the Canadian IT channel.' Prior to joining ITCloud, Emond served as Head of Service Delivery for one of Quebec's largest technology consulting firms. His leadership has been fundamental in ITCloud's repeated wins as Best Cloud/SaaS Distributor in Canada, as recognized by the Reseller Choice Awards — an honor voted on by partners. 'Carl has been a key leader at ITCloud for many years, and we are thrilled to have him step into this role,' said Renée Bergeron, COO of AppDirect. 'ITCloud continues to distinguish itself as a leading cloud distributor in Canada, and under Carl's guidance, it will continue to empower our partners with outstanding support, deep technical expertise and the tools they need to succeed in an evolving digital landscape.' To learn more about ITCloud, join the team at Altitude 2025 — the must-attend event for cloud resellers, tech professionals and organizations shaping the future of the cloud — held on May 22-23 in Trois-Rivières, Quebec. To learn more about AppDirect, connect with our team or head to About AppDirect AppDirect is a B2B subscription commerce platform company that brings together technology providers, advisors, and businesses to simplify how they buy, sell, and manage technology. More than 1,000 providers, 10,000 advisors, and 5 million subscribers rely on the AppDirect ecosystem of subscription marketplaces to power their innovation, growth, and success. For more information, visit and follow us on LinkedIn.
Montreal Gazette
07-05-2025
- Business
- Montreal Gazette
Plans to sell REM trains to the U.S. have been scrapped, Caisse says
After dreaming of exporting its light automated rail service (REM) to the United States, the chairman of Quebec's Caisse de dépôt et placement du Québec told a legislative committee on Tuesday the idea had been scrapped. Charles Emond told Liberal MNA Frédéric Beauchemin that the context in which the pension fund had several conversations in 2018 about exporting the service had changed. 'I have no intention of exporting the model to the United States in the same way it was discussed at the time,' Emond said. 'All of the team is concentrated on delivering the project (the REM expansion in Montreal) in its entirety.' Emond justified the change in policy by noting that 'charity begins at home.' His comments come as the existing REM service between Brossard and Central Station continues to be interrupted because of what operators describe as ' technical issues ' or, in some cases, winter weather. Meanwhile, the Caisse defended its investments and operations in India in the wake of what the Liberal opposition is describing as a 'scandal' hit the institution. The Caisse invested US$470 million in Azure Power Global, an India-based solar energy company that is now worth no more than US$100 million because of questionable business practices and corruption. Emond said Quebecers 'should not be worried,' saying the incident was an isolated case.
