Caisse leads new $160-million investment in Germain Hotels to speed up expansion plans

Caisse de dépôt et placement du Québec is leading a new round of investment worth $160-million in Germain Hotels to speed up the Canadian lodging company’s expansion as the tourism industry stays hopeful in an economy fraught with uncertainty.

The Montreal-based pension-fund giant is quarterbacking a new injection of equity in Germain that also includes the Fonds de solidarité FTQ labour fund and Investissement Québec, the provincial government’s investment arm, the partners said in a joint news release Thursday. All three are existing investors in Germain, together with the company’s founding family.

“Now we have some fresh money,” Jean-Yves Germain, the company’s co-founder and co-president, said in an interview….