Praedium Group Receives $100-Mil Investment from Canada With More to Come

NEW YORK CITY-Cadim, a subsidiary of the largest fund manager in Canada, CDP, has made a $100-million commitment to invest in the Praedium Group, based here, which invests in real estate assets and securities and distressed and high-yield mortgage loans. It also plans to invest an additional $200 million over the next two years. Another $50 million has also been committed by an affiliate of Credit Suisse First Boston.

Can$22 billion of CDP’s total assets of Can$120 billion are in real estate, much of it outside Canada. It has the largest real estate portfolio in Canada, which includes commercial, residential and office properties, manages the largest portfolio of Québec and Canadian stocks and is the principal holder of Québec government bonds. Cadim invests mostly in the residential and related sectors and partners with investors including real estate managers and builders who often manage day-to-day operations of properties on its behalf