Caisse de Dépôt et Placement du Québec, one of Canada’s largest public pension funds, is trying to increase its exposure to leveraged buyouts. But in Europe at least, it is struggling to keep hold of the executives it hired to build out its private equity strategy.

CDPQ, which had approximately C$326.7bn in assets as of June 2019, has seen a series of high profile departures from its direct private equity team in recent months.