Insurance firm Canada Life, Export Development Canada and Fonds de solidarité FTQ, a Quebec union-backed investor, contributed to the private equity fund, which will focus on emissions-reduction technology. Power Sustainable is the alternative investment arm of Power Corp., founded by Montreal’s billionaire Desmarais family, and has $4.2 billion in assets under management. (The Logic)

Talking point: With its fourth private equity effort, Power Sustainable is betting that  decarbonization trends will outlast the current flight away from clean energy investment and sustainable finance. “At a time of shifting priorities on the global stage, we’re seeing renewed momentum—and strong conviction from our capital partners,” Power Sustainable CEO Bruce Heyman said in a statement. According to Power Sustainable’s website, the fund will focus on North American companies in the lower middle market, which generally have revenues between US$1 million and US$40 million.