Hyperion Insurance Group has welcomed Caisse de depot et placement du Quebec’s (CDPQ) investment of more than $US400 million ($530 million) for a minority stake in the company.

The institutional investor will be a growth partner as UK-based Hyperion, the parent of underwriting agency Dual, seeks to grow.

“CDPQ is a fantastic partner to support us on the next leg of our journey,” CEO David Howden said.

“Its strategy to invest based on long-term fundamentals, combined with its deep understanding of insurance markets… means it will deliver valuable insight to help direct our future plans.”

CDPQ holds $C286.5 billion ($296 billion) in net assets.