Abstract

This chapter presents the keynote address of Augustin de Romanet during the October 2010 conference “Sovereign Wealth Funds and Other Long-Term Investors: A New Form of Capitalism?” held at Columbia University. In it, he talks about Caisse des Dépôts, a French public group, designed from its inception in 1816 as a long-term investment institution. Although the group has changed greatly since its origins in response to the changing needs of the economy, its strategy has always been firmly set in the long term. Their motto is foi publique, public faith, and their target is to serve the general interest and the promotion of the economic development of France. In addition, the group has moved closer to the sovereign wealth fund (SWF) model in 2008 with the creation of its Strategic Investment Fund. Today its ambition is to invest for the long term in infrastructure projects, businesses, the knowledge economy, and green development.

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