An analysis of investments by Quebec’s provincial public pension fund, which has more than $325 billion under management, show its holdings outside Quebec had grown to $40 billion by the end of 2018, up from $18 billion in 2014. It’s also investing more in foreign-owned, privately held funds. (Journal de Montréal)

Talking point: Since taking over as the Caisse’s president and CEO in 2009, Michael Sabia has pushed to make the pension fund “a truly global organization.” Increasing foreign investment has been an integral part of that push for the institution, which has traditionally invested primarily in Quebec. Foreign investments—comprised primarily of private investments, bonds, real estate and hedge funds—have become an important part of the Caisse’s private equity portfolio, and have paid out handsomely, at a rate of 12.3 per cent since 2013. Meanwhile, under Sabia, the Caisse has increased eightfold its hiring of employees outside the country.