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Launching of FIER Partners’ Web Site
FIER Partners Makes a Comprehensive Information Tool Available to Investors
Montréal, November 8, 2005 - Today FIER Partners, a limited partnership designed to support the creation of sector funds and participate in the financing of developmental projects in Québec, is launching its web site, which presents its role and areas of intervention.
The new site, sporting simple visuals, will enable users to navigate easily and naturally through comprehensive information on FIER Partners' investment parameters and operations.
"FIER Partners' web site will be very useful in making the mission of our limited partnership better known. The Québec government and three tax-advantaged funds chose this limited partnership as a means of pooling resources and creating a single investment tool that will increase the availability of venture capital as quickly as possible in every region of Québec," declared Mr. Jean Cyr, Chairman of the Board of FIER Partners.
FIER Partners is a component of the Regional Economic Intervention Fund (FIER). The limited partnership's initial capitalization of $180 million will be provided by IQ FIER, a subsidiary of Investissement Québec, ($90 million), and three tax-advantaged funds: the Fonds de solidarité FTQ ($50 million), Capital régional et coopératif Desjardins ($25 million) and Fondaction, the Fonds de développement de la CSN pour la coopération et l'emploi ($15 million).
FIER Partners has earmarked $80 million to support the creation of sector funds by contributing one dollar for every two dollars provided by private investors. An envelope of $100 million has been allocated for large-scale projects in the form of equity capital.
Internet users and investors will find comprehensive information about FIER Partners on the new web site launched today (www.fierpartenaires.com) as well as how to contact the limited partnership's management.
FIER Partners is a limited partnership bringing together the Québec government, the Fonds de Solidarité FTQ, Capital régional et coopératif Desjardins and Fondaction, the Fonds de développement de la CSN pour la coopération et l'emploi.
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Information:
Josée Béland
Spokesperson, FIER Partners
514 873-6027