The Caisse de dépôt et placement du Québec (CDPQ) is one of North America's largest institutional investors, managing pension funds and insurance money for Quebecers. With assets exceeding $400 billion, the Caisse invests globally in stocks, bonds, real estate, infrastructure, and private equity. Beyond generating returns for depositors, the Caisse has an economic development mandate supporting Quebec businesses and projects. Recently, the Caisse has directly built major infrastructure including Montreal's REM (Réseau express métropolitain) light rail system, taking a new approach where it finances, builds, and operates transit as an investment rather than traditional government procurement.