QUEBEC CITY, QC – The Quebec pension fund, Caisse de dépôt et placement du Québec (CDPQ), has recently secured a substantial stake of US$171.7 million in TFI International, a prominent and highly diversified transportation company with an extensive track record of 125 acquisitions across the United States and Canada since 2008.
This strategic investment, involving the acquisition of 1.3 million shares, was disclosed in the latest quarterly report submitted to the U.S. Securities and Exchange Commission (SEC) by the pension fund. CDPQ has been actively diversifying its investment portfolio within the transportation sector, previously allocating US$1.6 million in JB Hunt, US$29.9 million in Knight-Swift, US$68.8 million in Old Dominion Freight Line, and US$3.7 million in UPS. Additionally, the pension fund has invested US$55.1 million in the CH Robinson logistics firm.
The move to acquire a significant stake in TFI International aligns with CDPQ’s strategic investment approach, demonstrating a continued interest in the robust transportation industry. TFI International, recognized for its substantial presence and numerous acquisitions in North America over the past decade, is poised to benefit from CDPQ’s strategic involvement.
The Quebec pension fund’s diversified investments in various key players within the transportation and logistics sector underscore its commitment to capitalizing on growth opportunities and fostering a well-rounded portfolio. The recent acquisition of TFI International shares further solidifies CDPQ’s position as a discerning investor with a keen focus on the evolving dynamics of the transportation industry.
