A former member of the Caisse joins forces with a former member of Power Corporation

A former Caisse associates with a former Power Corporation< /p> UPDATE DAY

François Boudreault, who spent more than 20 years at the Caisse de depot, has just made the leap as a partner at Idealist Capital, an investment firm launched by former members of Power Corporation and the firm of Stikeman Elliott lawyers.

The Fund clarified yesterday in the Journalthat rules applied to its former employees who go to work for a competitor, particularly in terms of confidential information.

A former CDPQ partnered with a former Power Corporation

François Boudreault
Former v .-p. of the Caisse de depot

Mr. Boudreault was not available for an interview with Le Journal.

His last position at the Caisse was v.-p. and Deputy Head of Private Placements.

“He co-led a global team of investment professionals with a mandate to manage a diversified portfolio of direct private investments in North America, Latin America, Europe and Asia. He has invested more than $5 billion in multiple sectors and has served on several boards of directors,” Idealist Capital said in a statement.

Strong support from the state

Launched last month, Idealist has raised $250 million so far, including $35 million from Investissement Québec (IQ) and an unspecified amount from Fondaction CSN.

Mr. Larochelle assured that Idealist Capital was “100% independent” of Power Corporation. 

Recall that Pierre Larochelle chairs the boards of directors of Lion Electric and LMPG (Lumenpulse). The big boss of IQ, Guy LeBlanc, has already served on the board of Lion, while the Minister of the Economy, Pierre Fitzgibbon, has already served on that of Lumenpulse. Finally, the minister's former agent, Michel Ringuet, currently sits on the boards of both companies.

Lion's CEO, Marc Bédard, is an advisor to Idealist, as is Karim Zaghib, a former IQ and Hydro-Québec.

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