Otéra Capital Announces a Senior Management Appointment

Raymond McManus, President and Chief Executive Officer of Otéra Capital, announced today the appointment of Alfonso Graceffa to the new position of President and Chief Operating Officer. This appointment will be effective April 2, 2012.

Mr. McManus is committed to remain as Vice-Chairman of the Board and Chief Executive Officer until December 31, 2013. As such, he will be responsible for all Otéra’s activities, including the Executive Committee, risk management and strategic initiatives involving the organization. Mr. McManus will also continue to serve as a member of the Board of Directors.

As President and Chief Operating Officer, Mr. Graceffa will report directly to Mr. McManus and will oversee all of Otéra's operations, with the exception of risk management.

"Alfonso's skills and experience in the financial sector, along with his expertise in the area of commercial real estate lending and his entrepreneurial spirit make him an excellent candidate to meet the challenges of this position", pointed out Mr. McManus.

Alfonso Graceffa has over 25 years experience in commercial real estate lending, with responsibilities related to underwriting, risk management, particularly credit, and asset management. With Otéra since 2008, Alfonso has held the position of Executive Vice-President and Chief Investment Officer since August 2011. Prior to joining Otéra, Mr. Graceffa lead for 9 years the Commercial Real Estate Lending team at the National Bank of Canada, where he was responsible for the origination, asset management and investment management of commercial real estate loans. Mr. Graceffa has also worked for Standard Life, Citibank and Barclays Bank in Montréal.

Alfonso Graceffa holds a Master of Business Administration (MBA) from McGill University and is fluent in French, English and Italian.

ABOUT OTÉRA CAPITAL

Otéra Capital offers a full range of commercial real estate financing. Its integrated approach covers both term and construction loans, together with loan servicing and asset management. Otéra is also capable of arranging an extensive range of products including syndications and securitizations. Otéra is a subsidiary of the Caisse de dépôt et placement du Québec, one of Canada’s largest institutional fund managers. For more information: www.oteracapital.com