The Caisse de dépôt et placement du Québec is partnering with Sagard Real Estate to pursue an industrial outdoor storage investment strategy across major U.S. infill markets.
The partnership has an initial target gross asset value of $490 million with the option to scale through further commitments, according to a press release. The new platform strengthens the investment organization’s real estate portfolio construction strategy through diversification into alternative sectors, said Rana Ghorayeb, executive vice-president and head of real estate at the Caisse, in a statement.
“By leveraging Sagard’s fully integrated regional teams and proven off-market sourcing capabilities, we gain privileged access to high-quality opportunities.”
Oxford Properties, the real estate arm of the Ontario Municipal Employees’ Retirement System, is committing to a A$750 million equity raise from Hale, a vertically integrated Australian logistics manager and developer.
The investment organization is committing to the fundraiser after being a cornerstone investor for Hale’s inaugural vintages alongside Warburg Pincos.
“Since our cornerstone investment in Hale’s inaugural vintages, the team has successfully executed against strategy, building out one of Australia’s premier last-mile logistics portfolios and an impressive track-record across the full asset lifecycle,” said Alec Harper, head of Australia at Oxford Properties, in a press release.
In other news, the British Columbia Investment Management Corp. is launching a privately held renewable energy company alongside Norges Bank Investment Management and Brookfield Corp.
The new company, Northview Energy, will acquire a portfolio of contracted, operating renewable assets in the U.S. and Canada. Initially, it will acquire a seed portfolio of assets from leading renewable energy companies currently managed by Brookfield. It’s equally funded and owned by the three investors.
“Northview is a highly strategic addition to our infrastructure portfolio, bringing together de‑risked renewable energy assets, long‑term contracted revenues and a clear path for growth alongside likeminded, high‑calibre partners,” said Lincoln Webb, executive vice-president and global head of infrastructure and renewable resources at the BCI, in a press release.