The Canada Pension Plan Investment Board is investing US$1 billion in energy firm ArcLight Capital Partners LLC’s AlphaGen, one of the largest independent power portfolios in the U.S.
The investment will secure the CPPIB a strategic minority position in the power generation facility operator.
The accelerating demand for electricity will make these assets play a vital role in balancing renewable growth with the need for reliable supply, said Bill Rogers, head of sustainable energies at the CPPIB, in a press release. “Partnering with ArcLight, a highly experienced investor in power markets, positions us well to support AlphaGen’s strong operational performance to deliver sustainable, long-term value for the CPP fund.”
In other news, the Ontario Teachers’ Pension Plan has completed a funding transaction for Grafana Labs, an open-source analytics and monitoring data firm. The financial details of the transaction weren’t disclosed.
The investment also included participation from Sapphire Ventures and Tiger Global Management LLC alongside existing investors Lightspeed Venture Partners, Singapore’s GIC, Coatue, Sequoia Capital Operations LLC, CapitalG Management Company LLC and Lead Edge Capital.
“Enterprises are confronting increasingly complex digital landscapes, which is only going to accelerate with AI adoption,” said Rick Prostko, senior managing director at the Ontario Teachers’ Pension Plan, in a press release. “There is a clear need for solutions that help companies optimize their systems with speed and clarity.”
Oxford Properties Group, the real estate arm of the Ontario Municipal Employees’ Retirement System, has started development for a £2 billion national logistics hub in the U.K.
The development will be led by Logistics Capital Partners and Carlsberg Britvic, which will invest £4 million to the site.
“We look forward to working with Carlsberg Britvic on the delivery of their new facility and welcoming them to the site once it’s completed next year,” said Robin Everall, head of development at Oxford Properties, in a statement.