Caisse de dépôt et placement du Québec is increasing its stake in Cirque du Soleil, a Montreal-based live entertainment company. No financial terms were disclosed. As part of this transaction, CDPQ is acquiring the holdings of the company’s founder, Guy Laliberté. Following the closing, CDPQ will own nearly 20 percent of Cirque du Soleil while TPG remains the majority shareholder.
MONTRÉAL, Feb. 17, 2020 /PRNewswire/ – Caisse de dépôt et placement du Québec (CDPQ) announced today that it is increasing its stake in Cirque du Soleil Entertainment Group (Cirque du Soleil), a leader in the live entertainment industry. As part of this transaction, CDPQ is acquiring the holdings of the company’s founder, Guy Laliberté, who will remain involved in the company’s creative process and retain economic interests.
Following this investment, CDPQ will own nearly 20% of Cirque du Soleil. “We are happy to strengthen our presence among shareholders of Cirque du Soleil, an iconic entertainment brand with worldwide renown,” said Charles Emond, President and Chief Executive Officer of CDPQ. “CDPQ intends to continue backing Cirque du Soleil in its development projects that have showcased Quebecers’ creativity and expertise for several decades.”
“I am happy that my share of Cirque du Soleil, which I founded 35 years ago, is going to Québec interests. I will continue to be involved in the creative process for shows and, more importantly, in supporting and contributing to the reach of Québec’s entertainment industry through my other projects,” said Guy Laliberté, Founder of Cirque du Soleil, the One Drop Foundation and Lune Rouge.
“The transaction announced today is excellent news, as it keeps a significant Québec presence among the shareholders,” said Daniel Lamarre, President and Chief Executive Officer of Cirque du Soleil Entertainment Group. “It also makes me very happy and proud to be able to continue counting on Guy’s expertise as a creative consultant to continue growth this company he founded in 1984.”
Since CDPQ became a Cirque du Soleil shareholder in 2015, the company has made three acquisitions to diversify its product offering and markets. Cirque du Soleil Entertainment Group currently employs over 4,900 people, including 1,500 in the Montréal head office, and has around fifty permanent and touring shows around the world.
Following this transaction, TPG remains the majority shareholder of Cirque du Soleil Entertainement Group.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2019, it held CAD 326.7 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
About Cirque du Soleil Entertainment Group
Cirque du Soleil Entertainment Group is a world leader in live entertainment. On top of producing world-renowned circus arts shows, the Canadian organization brings its creative approach to a large variety of entertainment forms across its division, including Cirque du Soleil, Blue Man Group, VStar Entertainment Group, The Works Entertainment, Cirque du Soleil Events + Experiences and 4U2C. The Group currently employs over 4,900 people from over 70 countries. Going beyond its various creations, Cirque du Soleil Entertainment Group aims to make a positive impact on people, communities and the planet with its most important tools: creativity and art. For more information about Cirque du Soleil Entertainment Group, please visit CDSentertainmentgroup.com.