On January 18, 2022, Caisse de dépôt et placement du Québec (CDPQ), announced an increase in its majority stake in limited partnership Trencap L.P., alongside the Fonds de solidarité FTQ. Trencap owns 100 percent of Energir, a Quebec-based natural gas and power distributor servicing Québec and the northeastern United States.

Following the closing of this transaction, CDPQ now holds 80.9 percent of Trencap shares, while the Fonds de solidarité FTQ maintains its 19.1 percent stake in the company.

CDPQ is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans.

McCarthy Tétrault advised CDPQ and Trencap with a team led by Patrick Boucher that included Isabelle Nazon (Business) and Fred Purkey (Tax). Trencap was represented in the U.S. by Mayer Brown LLP and SHEEHEY FURLONG & BEHM P.C.

Davies Ward Phillips & Vineberg LLP acted as Canadian counsel to Enbridge on the transaction. Enbridge was also represented by Downs Rachlin Martin PLLC.