On October 9, 2003, Business Development Bank of Canada (BDC) and Caisse de dépôt et placement du Québec (CDP) agreed to provide mezzanine financing, through a limited partnership, AlterInvest Fund LP, managed by BDC. BDC and CDP will contribute up to $300 million over a three-year period to finance small- to medium-sized companies across Canada in amounts ranging from $250,000 to $10 million per investment. Concurrently, BDC acquired a 50 per cent interest in a portfolio of existing investments held by AlterInvest Investment Fund Inc., a wholly owned subsidiary of CDP prior to closing.
BDC was represented by in-house counsel François Rivest; and by Stikeman Elliott LLP, with a team that included André Roy, Franziska Ruf, Luc Bernier, France Margaret Bélanger and Pascal Hurtubise. CDP was represented in-house by Claude Bergeron, vice-president, legal; and Bruno-Étienne Duguay, counsel; and by Ogilvy Renault, with a team that included Jean-Pierre Colpron,François Courteau, Natalie Brown, George Zevgolis, Serge Levy and Claude Baril.