Quebec Fund Lost $75 Million in Four Months With Cirque Deal

Quebec’s pension fund said it spent $75 million in February to double its stake in Cirque du Soleil Entertainment, an investment it was forced to write off in June when the company filed for bankruptcy protection.

Caisse de Depot et Placement du Quebec’s decision to buy an additional 10% of the live performance company from founder Guy Laliberte came after months of discussions with shareholders, Caisse Chief Executive Officer Charles Emond said Monday. The fund spent $71 million for its initial 10% stake in 2015, he told a panel of lawmakers in Quebec City. Neither amount had been ...