Development finance institution

Caisse des Dépôts et Consignations (CDC)

Compiled from public sources

The Caisse des Dépôts et Consignations (CDC) is a French public financial institution created in 1816, often referred to as the investment arm of the French State. It is defined in the French Monetary and Financial Code as a "public group serving the public interest" and a "long-term investor." Its governance framework places it under the control of the Parliament. Established in 1816, CDC operates under a unique mandate that combines financial performance objectives with public interest missions, including economic development, housing, pension management, and territorial development. The institution manages several distinct pools of capital: the Savings Fund (which invests deposits from France's regulated savings accounts), pension reserves for public sector employees, the institution's own equity capital, and strategic holdings in major French companies and infrastructure assets. The investment portfolio spans public equities, fixed income, real estate, infrastructure, private equity, venture capital, and strategic corporate holdings.