The Public Sector Pension Investment Board is making a number of new investments, including acquiring a Quebec-based wind power facility and a portfolio of real estate in British Columbia and investing in a video telematics company from California.

The pension fund, alongside Pattern Energy Group Inc., is acquiring Mont Sainte-Marguerite Wind, a 147.2 megawatt wind power facility outside of Quebec City that’s set to operate under a 25-year power purchase agreement with Hydro-Québec Distribution.

Read: PSP invests in U.S. childcare provider

PSP Investments also teamed up with Crestpoint Real Estate Investments Ltd. to acquire a portfolio of 12 industrial and office buildings in the Vancouver and Burnaby areas. One building of note included the Leadership in Energy and Environmental Design platinum head office of Mountain Equipment Co-op. 

Alongside private equity firms Clearlake Capital Group, HarbourVest Partners and Guggenheim Investments, the pension fund is also allocating $700 million in capital to Lytx Inc., a video telematics company that creates tools focused on driver risk management. The firms join current controlling shareholder and private equity firm GTCR Golder Rauner.

“This investment comes at a critical phase in the evolution of data and video telematics and is perfectly timed with the next wave of machine vision and artificial intelligence services for fleets,” said Brandon Nixon, chairman and chief executive officer of Lytx. “We are now poised to leverage this technology, along with our vast amount of driving data, to help our clients solve their toughest operational problems, and keep their workers safe.”

Read: PSP Investments commits $20M to B.C.-based quantum computing company

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required