multifamily investment

CDPQ injects $250 million into Avison Young

Monday, July 16, 2018

Strategic investment from Caisse de dépôt et placement du Québec (CDPQ) will allow the principals of Avison Young to regain 100 per cent of the common shares in their real estate services company. With today’s announced $250 million injection from the Quebec-based institutional investor, Avison Young will repurchase shares from its current equity partner, Parallel49 Equity, and from other non-management founders and former principals.

Accompanying details of the deal — in which CDPQ acquires non-voting preferred shares and will designate three members to Avison Young’s nine-member board — stress that the company is “well capitalized” and has sought out the new investor to buttress its growth strategy. Currently, Avison Young boasts 84 offices in North America and Europe, expanding rapidly over the past decade through its model of private, principal-led ownership.

“We look forward to a collaborative relationship with CDPQ and its large global network, and benefitting from the ability to share expertise, deal flow, market intelligence and resources as we continue to grow our business across the spectrum of commercial real estate services in North America and other key markets globally,” says Mark Rose, Avison Young’s chair and chief executive officer.

“With its unique corporate culture and its long-term vision, Avison Young is an ideal partner for CDPQ, and we look forward to supporting the company as it continues to grow over the coming years,” observes Stéphane Etroy, executive vice president and head of private equity at CDPQ.

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