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Canadian Fund Buys into Rothschild

Paul Das 2 February 2005

Canadian Fund Buys into Rothschild

Caisse de dépôt et placement du Québec, Canada's biggest pension fund, has bought a stake in the Swiss branch of La Compagnie Financière Edmond de Rothschild Banque, part of the Rothschild banking dynasty. The Caisse is to buy a 10 per cent stake in the bank. The Paris-based private bank and fund management group, part of the Geneva-based financial empire of Benjamin Rothschild, said the Caisse would invest about €55million ($71.5 million) through a capital increase. Edmond de Rothschild Banque manages €18 billion ($23.4 billion) in France through its asset management, private equity, property and private banking activities. It is owned by the Geneva-based family of Benjamin de Rothschild, who inherited it from his father Edmond in 1997.

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