Despite geopolitical tensions, La Caisse de dépôt et placement du Québec (CDPQ) is actively investing in U.S. real estate. Since the beginning of 2025, the Quebec pension fund has committed $3.3 billion to the sector. This strategic move comes as CDPQ aims to optimize its portfolio for higher returns.

Over the past 18 months, CDPQ has divested approximately $3 billion in U.S. properties. However, this has been counterbalanced by new commitments totaling $3.3 billion to U.S. real estate, according to Karen Horstmann, head of U.S. real estate for the pension investor. This demonstrates a clear strategy to recycle capital and pursue growth opportunities in the American market.