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Wednesday, August 19, 2026The Morning Brief →Sign in
Allocators

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

Private-market losses offset listed equity gains for the institutional investor.

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.

Why it matters

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.

Sources & further reading
Private Equity Wire
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