As GE Retools, a $230 Billion Fund Eyes Broader Ties

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Canada’s No. 2 pension-fund manager is eyeing a broader partnership with General Electric Co. as the beleaguered U.S. manufacturer rethinks its business.

Caisse de Depot et Placement du Quebec is already teaming with GE on a $2 billion aircraft-leasing platform. The duo also partnered on the purchase of a U.S. natural-gas pipeline system in 2015.

Now the pension-fund manager is open to playing a “constructive role” as GE overhauls its portfolio, said Caisse Chief Executive Officer Michael Sabia. At GE, CEO John Flannery is cutting costs, selling assets and reshaping operations in a bid to pull GE out of one of the worst slumps in its 126-year history.“We are doing a number of things with them and we think they are a very good partner,” Sabia said in a telephone interview March 2. “John Flannery is working hard on shaping that company for the future. There’s an ongoing…

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