The Caisse de dépôt et placement du Québec today announced an investment of more than 50 million euros, or about $81 million, in the share capital of La Compagnie Financière Edmond de Rothschild (LFC Rothschild), a private French bank that specializes in asset management.

LFC Rothschild is wholly owned by Baron Benjamin de Rothschild and his family through La Compagnie Financière Saint-Honoré.

The investment will give the Caisse about 10% of the company’s capital once approval has been secured from the regulatory authorities.

According to the Caisse, the investment will contribute to the rapid development of the Paris branch of the LCF Rothschild, which specializes in wealth management, corporate advisory services and insurance brokerage through Assurances et Conseils Saint Honoré, one of the leading French brokers.

The LCF Rothschild manages almost 60 billion euros of assets, with about one-third held by the Paris branch, and has recorded annual growth of about 20% since 1997, when Baron Benjamin de Rothschild became chairman.