P eople from just about everywhere in Que-bec will soon have access to a new gene- ration of schools and residences for seniors and adults with special needs. Given the scope of this mandate, the Quebec government has decided to carry out most of the work in design- build mode and to assign the search for finan- cing to general contractors, including us.

This was an opportunity to call on the expertise of our subsidiary, Pomerleau Capital.

The subsidiary s dozen experts alone raised over $2 billion through debt financing for large- scale projects, like the construction of new schools and residences in Quebec, the repair of the Louis-Hippolyte-La Fontaine tunnel in Montreal and the renovation of courthouses in Ontario.

This simplifies our clients work: we deliver turn- key projects that include design, construc- tion and financing, and we offer expertise in construction risk management.

A specialized investment fund

We ourselves invest beyond the capital nee- ded to finance the construction compo- nent of private or public-private partnership projects.

We invest as soon as the first shovel hits the ground and we maintain our ownership stake for 20 to 30 years in projects that have a positive impact on society renewable ener-

gy, hospitals, government buildings, civil infrastructure and transportation. Few inves- tors are as inclined as we are in investing in structures before they are operational.

All this is made possible by Pomerleau Capital and its new PCap Infrastructure & Renewables Fund. We ve already invested in a wind farm, an offshore wind blade manu- facturing plant, a mixed-use real estate com- plex seeking LEED Platinum certification, and a high-performing energy-saving data centre.

This $85-million fund, backed by the Caisse de dépôt et placement du Québec, could quickly increase based on business oppor- tunities and demand from other institutional investors. The Fund will concentrate its capi- tal in Canada and the United States.

Unlike a traditional fund, the strength of the PCap Infrastructure & Renewables Fund resides in the fact that as a builder, we know about investment opportunities very early on in the game and, more importantly, we manage the construction risks.

Even before the service offer, the Fund part- ners with a single consortium of investors committed to the same values and objec- tives for a given project, while maintaining its independence and distance with respect to our construction activities.

Today, a specialized team at Pomerleau Capital manages all of our interests in long- term assets, public-private partnerships or otherwise, totalling $750 million.

Another string in our bow: financing construction projects

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