Quebec's La Caisse returns 5.1% in H1, lags benchmark

Private Equity Wire, citing Bloomberg, reported that La Caisse de dépôt et placement du Québec delivered a 5.1% return for the first half of 2026, coming in under its reference index. The underperformance stemmed from a steep drop in private-equity valuations that swamped advances in publicly quoted stocks.

The outcome is a useful case study for allocators balancing illiquid buyout portfolios against public-market exposure. When listed equities rebound, the mark-to-market drag from private assets can produce headline numbers that lag a simple equity benchmark, even if long-term performance holds up.