FTQ and CDPQ Invest $60M in BDG Appalaches III Fund

Canadian global investment group CDPQ has made a $60M co-investment alongside Fonds de Solidarité (FDQ) to BDG Appalaches III Fund (BDG III), a private equity, middle-market buyout fund strategy, in its first round of funding, CDPQ announced in an October 16 news release.

BDG III, created by Montreal-based private equity firm BDG & Partners, targets the acquisition of controlling interests in Canadian SMEs within traditional sectors that have a value creation approach focused on active operational management. BDG III has raised more than $240M in the first round of funding.

The Québec-based CDPQ and FDQ are allocating $30M each due to their desires to support local financial expertise, help local businesses thrive, and ignite the growth of Québec’s asset management industry, the companies said.

According to the press release, FTQ has $20B in net assets as of May 31, while CDPQ has $328.2B in total assets.

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