The Caisse de dépôt et placement du Québec plans to invest $1.43 billion on infrastructure in Mexico with a consortium of Mexican institutional investors.
The partners will invest a total of $2.8 billion over the next five years in several sectors of the infrastructure market, such as energy generation (including renewable energy), transmission and distribution, transportation, and public transit.
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The Caisse will hold a 51% stake in the co-investment vehicle, called CKD Infraestructura México. Mexican pension fund managers Afore XXI Banorte, Afore SURA, Afore Banamex, Pensionissste and infrastructure fund Fonadin will own the rest.
“By combining their in-depth knowledge of the market and local networks with our infrastructure expertise, we are creating an innovative investment platform that is ideally positioned to find and invest in the best Mexican infrastructure projects,” says Caisse president and CEO Michael Sabia.
The Caisse’s infrastructure portfolio is currently worth more than $11 billion and it hopes to double the size of the portfolio by 2018.
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