Copyright_Kittikorn Nimitpara_123RF

The Caisse de dépôt et placement du Québec is acquiring an equity stake in North American port terminal and logistics operator QSL International Ltd.

The investment organization first invested in QSL in 2021 through loan deals. The deal is expected to close in mid-2024 and details of the transaction weren’t disclosed.

“We are proud to take an equity stake today, which will enable us to keep the assets and talent here, alongside an experienced partner in the maritime sector,” said Kim Thomassin, executive vice-president and head of Québec at the Caisse, in a press release. “Working together, we will enable QSL to pursue an ambitious growth plan, in which Québec will remain the hub.”

Read: Caisse returns 7.2% for 2023, driven by bonds, equities

The Canada Pension Plan Investment Board is selling a 21 per cent partial interest in a joint venture investing in logistics assets in South Korea.

The CPPIB’s sale of its stake in Kendall Square Development Venture is expected to net US$245 million for the investment organization. The investment organization will continue to be an investor in the joint venture, which was established in 2015 through a 24 per cent stake in a newly formed open-ended logistics core fund.

“The partial sale of our stake in [the joint venture] allows us to monetize the investment to deliver returns to the CPP fund while remaining committed to this important sector,” said Gilles Chow, head of real estate for North Asia at the CPPIB, in a press release.

Read: CPPIB part of development joint venture in South Korea

In other news, the Public Sector Pension Investment Board is partnering with global real estate firm Hines on the first section of a redevelopment project in Toronto.

Hines will partner with the investment organization’s subsidiary Northcrest Developments, to develop the Hangar District as part of the Downsview Airport Lands redevelopment project. According to a press release, the project would create 3,000 new homes in the land.

“With extensive experience in mixed use developments globally and a foundational commitment to innovation and sustainability, Hines is known for its track record of developing landmark real estate projects that deliver lasting value to communities and investors,” said Laurence Bastien, managing director of real estate investments Americas at PSP Investments, in the release.

Read: PSP subsidiary starts development consultations for Toronto property