In the last St. Lawrence Express edition, we presented an interview with Gaétan Morin, President and Chief Excutive Officer, Fonds de solidarité FTQ:
1. What should we know about the Fonds de solidarité FTQ that the general public doesn’t know?
The Fonds de solidarité FTQ is not a financial institution like the others. With the retirement savings of its 600,000 Quebec shareholders, the Fonds de solidarité FTQ is a patient and flexible investor for entrepreneurs contributing to the Quebec’s economic development. We have a long-term vision that promotes and facilitates promising projects for Quebec’s future, as well as creating and maintaining jobs. With a net asset of $11.1 MM, with 2 550 partner companies in which the Fonds has invested and an expertise developed over more than 30 years in every economic sector, the Fonds is spearheading tomorrow’s economy.
2. The Fonds FTQ has recently announced investments in the Quebec’s maritime sector. Why the sudden interest?
The Fonds has been investing in this sector for a long time. For more than 30 years, the Fonds and its network of Fonds régionaux (regional funds) have invested $381 millions in the transportation sector. Our current portfolio includes 17 partner companies with 8 198 jobs here in Quebec, including the Fonds’ recent participation to the consortium that has acquired Montreal Gateway Partnership from an American investment fund. Due to our involvement in the sector, the government has chosen the Fonds as a Maritime Strategy key partner.
3. The Fonds will be involved in the Maritime Strategy implementation, especially regarding the logistics centers. How can SODES members benefit from this involvement?
According to its mission, the Fonds is a patient and flexible investor. Patient, because the Fonds makes long time investments to support economic development, and flexible because it offers non-guaranteed capital. For SODES members seeking to finance their projects related to logistics centers, the Fonds is more than a financial institution. It is also a partner for a long-term growth. Also, we provide a non-financial support to our partner companies with a team specializing in the transport sector that includes investment advisors, market specialist and our business network.
4. The Fonds FTQ has just become a SODES member. What does it mean to you to be a SODES member?
If we wish that the marine industry plays a key role, all the stakeholders must work together and SODES is the forum that brings them all together. As a Maritime Strategy partner, it is essential that the Fonds FTQ sits at the table. It is now in a better position to meet the entrepreneurs’ needs and participate to their development.
5. Do you have a particular message for our members?
Nature has given the Quebec province a competitive advantage: the St. Lawrence River. It is an exceptional trade corridor that is at the center of the Quebec of tomorrow’s economy. Together, we must ensure that the entrepreneurs from anywhere in Quebec, not only those located along the St. Lawrence River, have the necessary tools to fully enjoy the business opportunities. The Fonds’ support to the government’s Maritime Strategy and the projects related to the logistics centers shows its commitment to developing these tools.