CDPQ Invests in Avison Young: Strategic Real Estate Partnership
Rand D. Stephens, managing director of Avison Young in Houston
Toronto and Montréal, Canada – Mark E. Rose, Chair and CEO of commercial real estate services firm Avison Young, announced that Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s leading institutional investors, has committed a $250 million preferred equity investment to accelerate Avison Young’s strategic growth plan.
Avison Young will allocate the funds toward targeted acquisitions and the hiring of senior professionals to support the firm’s continued expansion.
Rand D. Stephens serves as managing director of Avison Young’s Houston office, which opened in June 2010.
CDPQ manages a diverse global portfolio with approximately $298.5 billion in net assets, investing across private equity, real estate, infrastructure and other asset classes.
“We welcome a collaborative partnership with CDPQ and value access to its extensive global network,” said Mark E. Rose. “This relationship will enhance our ability to share expertise, source deal flow, and leverage market intelligence and resources as we expand our commercial real estate services across North America and into other strategic markets worldwide. CDPQ’s support validates our growth strategy, which began with 11 offices in Canada and has grown to 84 offices across North America and Europe in under a decade, with revenue increasing more than fifteenfold during that period.”
