The Caisse de dépôt et placement du Québec has stopped investing in private Chinese assets. Kate Monfette, a spokesperson for the fund—which manages $402 billion in assets—said investments have been halted “for some time” but did not say when it hit pause. (Financial Times, The Logic)

Talking point: CDPQ will continue investing in “liquid markets,” which make up most of its exposure in China. Investments in the country account for about two per cent of its total portfolio. Le Devoir reported in March that the pension giant was closing its Shanghai office and is now leading its business in Asia out of Singapore. Other Canadian pension funds are also paring back their presence in the country, amid strained relations between China and the West. Ontario Teachers’ Pension Plan has closed its Hong Kong-based China equity investment team, and the firm has said it is pausing private investments in the country. British Columbia Investment Management said earlier this month it has done the same.