Alexandre Synnett, executive vice-president of the pension fund’s private equity division, “left our organization on his own volition about two weeks ago,” said CEO Charles Emond during Caisse de dépôt et placement’s 2022 earnings call. The Caisse wrote off its US$150-million investment in Celsius, the New Jersey-based crypto lender that filed for bankruptcy protection last July. Also two weeks ago, the Caisse filed suit against Celsius accusing the company of “false and misleading” claims about its financial standing, Emond said. The CEO reiterated what he told The Logic in August: the pension fund will no longer invest in cryptocurrencies. (The Logic)
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Alexandre Synnett, executive vice-president of the pension fund’s private equity division, “left our organization on his own volition about two weeks ago,” said CEO Charles Emond during Caisse de dépôt et placement’s 2022 earnings call. The Caisse wrote off its US$150-million investment in Celsius, the New Jersey-based crypto lender that filed for bankruptcy protection last July. Also two weeks ago, the Caisse filed suit against Celsius accusing the company of “false and misleading” claims about its financial standing, Emond said. The CEO reiterated what he told The Logic in August: the pension fund will no longer invest in cryptocurrencies. (The Logic)
Talking point: The Caisse posted a 5.6 per cent loss in 2022, its first negative annual result since 2008. Its real estate and infrastructure portfolios were one bright spot, with an annual return of 12 per cent. Fixed income was on the other end of the spectrum, with a 14.9 per cent loss. The Caisse’s 10-year return stands at eight per cent.
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