Copyright_Pedro Antonio Salaverrìa Calahorra_123RF

The Canada Pension Plan Investment Board is selling its stake in a U.K. wireless utilities provider.

Through the deal reached with Digital 9 Infrastructure, an investment fund from Triple Point Investment Management, the investment organization will receive $585 million for its stake in the Arqiva Group Ltd. The transaction, which is subject to customary conditions and regulatory approvals, is expected to be completed in 2022.

The CPPIB invested in Arquiva, a company that provides television and radio broadcasting services in the U.K., in 2009. “Since the initial investment, [CPPIB] supported the company in its operational and financial transformation to adapt to the dynamic nature of the U.K.’s digital and broadcast infrastructure and we are confident the business will be well supported by both its new and existing investors,” said Scott Lawrence, managing director and head of infrastructure at the CPPIB, in a press release.

Read: OMERS expanding Australian telecom tower network, Caisse investing in online furniture retailer

In other news, the Ontario Teachers’ Pension Plan is investing in an insurance brokerage seeking to make insurance-linked securities more attractive to institutional investors.

The Ontario Teachers’ private equity division, Teachers’ Venture Growth, was the second largest investor during an investment round for Ledger Investing Inc. While the exact size of the Ontario Teachers’ investment wasn’t disclosed, the round raised US$75 million in total.

Through its subsidiary, Ledger ILS Managers, the company is providing institutional investors with access to securitized opportunities within the insurance sector. According to a press release, the strategy is aiming to make allocations to the reinsurance sector more transparent and less risky for institutional investors. It’s also seeking to provide insurers with access to large pools of capital while eliminating unnecessary frictional costs.

Read: Ontario Teachers’ leads investment round for benefits provider, OMERS backs battery company