Ten years of impact: the QEMP has propelled a new generation of Quebec asset managers
Montréal, [June 9, 2026] – The Quebec Emerging Managers Program (QMEP), managed by Innocap and supported by Finance Montréal, is celebrating its 10th anniversary this year. In a decade, this program, unique in Canada, has enabled 26 emerging asset managers from Quebec to access transformative institutional mandates, raising the assets under management from $250 million at its launch to more than $600 million today.
A response to a structural Gap in the Quebec market
In the middle of the 2010s, industry leaders recognized a persistent challenge in the Quebec asset management industry: despite a recognized talent pool, young Quebec firms are struggling to break into the institutional marketplace. The minimum size required by institutional investors and the cost of operational compliance block access to pension funds, insurance companies and foundations, yet the first to propel these firms towards autonomous growth.
It is within the framework of Finance Montréal’s Entrepreneurship project, under the leadership of Vital Proulx (Hexavest) and Stéphane Corriveau (AlphaFixe), that a solution takes shape: create a pooled vehicle that allows institutional investors to allocate capital to multiple emerging managers simultaneously, while benefiting from an institutional-grade governance and risk management infrastructure operated by Innocap.
Launched in 2016, the QEMP was designed to address the needs of emerging managers: obtaining significant institutional mandates, accessing an institutional platform that ensures their sustainability, and focusing on their core business, portfolio management, entrusting operational, legal, compliance and risk functions to Innocap.
Ten years supporting a new generation of asset managers
Sustained growth in assets under management
From $250M at the launch in 2016 to more than $600M in 2026, a 2.4-fold increase in 10 years, in a context of volatile markets and evolving institutional requirements.
A growing cohort
26 managers have been selected over the years, covering traditional strategies (fixed income, Canadian, US, global equities) and alternatives (long/short, hedge funds, ESG, real assets).
Loyal pillar investors
La Caisse, Le Fonds de solidarité FTQ and Fondaction are three of the investors who have supported the QEMP since its inception. In 2023, the Caisse renewed its commitment to the QEMP by announcing an additional investment, bringing its total commitment to $250 million, or $50 million per year over five years. Depending on needs, this commitment could reach up to $500M.
The "graduations" that validate the model
Several managers have been granted independent institutional mandates following their time at the QEMP, demonstrating that the program is fulfilling its mission of acceleration and scaling up.
Nymbus Capital will graduate from the program this year, having built a track record of first percentile performance in its systematic fixed income and multi-strategy solutions. This evolution is largely attributable to significant growth in assets under management, reflecting the firm's increasing maturity and enhanced reputation within the market.
Recognition in the industry
Several managers of the QEMP have been distinguished by their financial performance and growth trajectory. In 2025, the supported firms recorded average growth of 215% in their assets under management and 25% in their workforce.
Testimony
Jacques Deforges – CEO, Finance Montréal
”The QEMP illustrates exactly what can be accomplished by a financial cluster that takes its role as an architect seriously. For ten years, rather than simply promoting Montreal as a financial center, we built with Innocap and our institutional partners a concrete financing infrastructure. It is this logic – building lasting structures, not simply promoting an image – that we want to extend into the next decade.”
Mission and founding values
As a reminder, the QEMP’s mandate is to promote the growth of financial entrepreneurship in Quebec by offering institutional investors a diversified and balanced investment strategy managed by emerging Quebec managers. Three founding principles guided its development:
- A non-negotiable institutional discipline: any firm selected has access to a governance, transparency, and risk management framework equivalent to the one required by Canada’s largest allocators.
- A structural alignment with the Quebec ecosystem: the capital invested remains managed here, by local firms, and the economic spinoffs extend across Quebec's financial value chain (research, professional services, university education).
- An explicit commitment to responsible investment: all QEMP managers are signatories of the United Nations Principles for Responsible Investment (PRI), and the program integrates ESG factors into its selection and monitoring processes.
Consult the official press release to learn more.
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About QEMP
Created in 2016, the QEMP is a project that was launched as part of the work of Finance Montréal’s Entrepreneurship project, in collaboration with established portfolio management firms. The QEMP is looking for emerging firms offering traditional strategies (fixed income, Canadian equities, US equities, global equities, sustainable or ESG strategies, etc.) and alternatives (all types of hedge funds, including sustainable or ESG strategies). In order to invest in the success of tomorrow’s top managers, the QEMP encourages allocators, cities and municipalities, pension funds, foundations and universities to join the program.
To learn more, visit our website or consult our LinkedIn page.
About Innocap
Innocap is the global leader in dedicated managed account platforms.
They offer institutional investors a superior way to structure, access and oversee their investments.
To learn more, visit Innocap or check out their LinkedIn page.
About Finance Montréal
Finance Montréal is the financial cluster of Quebec. Its mission is to promote Montreal as a leading financial centre and support the development of the Quebec financial industry. Finance Montréal operates several strategic initiatives in sustainable finance, technological innovation, talent development and international competitiveness.
To learn more: https://www.finance-montreal.com/en/home.
Renseignements
Naomie Bourduas-Mailhot
Conseillère principale, Initiatives stratégiques et relations clients, Innocap
naomie.bourduas@innocap.com
Anne-Sophie Marcoux
Conseillère, Communications stratégiques et contenus numériques, Finance Montréal
Finance Montréal
anne-sophie.marcoux@finance-montreal.com
