The British Columbia Investment Management Corp. is investing in a global corporate services provider.

Through the agreement, which was reached with majority investor Corsair Capital, the institutional investor will secure a minority stake in the Zedra Group. Founded in 2016, Zedra offers its clientele, which includes individuals, pension plans and corporations, a range of financial services. It also offers support to businesses expanding their territorial reach.

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The capital secured by the deal has been earmarked for funding Zedra’s own territorial expansion through organic and inorganic growth, as well as to improve the services it offers its clients, according to a press release.

In the release, Jim Pittman, executive vice-president and global head of private equity at the BCI, said that institutional investor had been drawn to the company’s strong position in its sector. “The corporate services and fund solutions sector is a core area of focus for BCI and we look forward to generating attractive returns for our pension plan and insurance fund clients through this investment.”

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In other news, the Caisse de dépôt et placement du Québec is receiving US$399,990,427.20 for the repurchase of shares it holds in an information technology provider.

As part of the agreement, CGI Inc. will buy back 3,968,159 of the Caisse’s 27,468,159 class A shares. Following the repurchase, the institutional investor will control 9.8 per cent of CGI’s total outstanding shares.

In a press release, Kim Thomassin, executive vice-president and head of Quebec at the Caisse, said the funds raised by the repurchase would be reinvested in Quebec-based companies. “Once again this year, CGI produced excellent results for its shareholders. . . . Following this transaction, CDPQ will continue to be one of the main shareholders of CGI and we intend to remain so to support the long-term growth of this information technology leader.”

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And the Public Sector Pension Investment Board is jointly acquiring a development project under construction in Brisbane.

Alongside the Charter Hall Group, a real estate investment firm that has collaborated with the institutional investor on development projects since 2011, PSP Investments will purchase a development project building a 25,000 square metre office tower.

Located in the Australian city’s business district, the building is expected to be completed before the end of 2022. About 70 per cent of its available units have already been leased. The building will be powered by renewable electricity.

“We are pleased to extend our long-term relationship with Charter Hall and look forward to expanding our real estate investments in Australia,” said Stéphane Jalbert, managing director and head of Asia-Pacific and Europe real estate investments at PSP Investments, in a press release.

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