A fund backed by the Canada Pension Plan Investment Board and the Ontario Municipal Employees’ Retirement System is buying a stake in Indian road projects.

Brookfield Asset Management Inc. is selling five road projects valued at $1.5 billion to an infrastructure investment trust — the IndInfravit Trust — partially owned by the two Canadian pension funds. The portfolio comprises three toll roads and two annuity roads with a combined total of 2,400 kilometres.

Prior to the acquisition, IndInfravit held a portfolio of 13 operational road concessions with 5,000 kilometres of lanes spread across five Indian states. The new additions to the portfolio will expand the portfolio into three more Indian states: Andhra Pradesh, Bihar and Uttar Pradesh.

Read: CPPIB investing in energy storage provider, Ontario Teachers’ in Indian roads

The CPPIB is also acquiring a stake in a private life sciences sector service provider.

The institutional investor’s stake in Advarra Inc., an Australian company offering regulatory and compliance solutions and clinical trial technologies for the life sciences sector, was made alongside asset manager Blackstone Inc. While the exact terms of the deal haven’t been disclosed, the interest of Blackstone and the CPPIB will represent a majority stake in the company.

According to a press release, Sam Blaichman, managing director and head of North American direct private equity at the CPPIB, said the move was designed to capitalize on the life sciences’ sector’s growing need for clinical research. “Advarra has established a strong reputation in the industry and is well positioned to address the growing need for high-quality clinical research solutions, making it a good fit for our long-term investment strategy,”

Read: CPPIB investing in Indian roads, French real estate credit

In other news, the Caisse de dépôt et placement du Québec is acquiring a minority stake in an engineering firm focused on buildings in the health, education, public, commercial and multi-residential building segments.

Based in Ottawa, Bouthillette Parizeau specializes in the design and commissioning of construction project with a focus on green and sustainable solutions. Capital raised by the investment will be used to support a pan-Canadian strategic development plan and to accelerate its business growth, according to a press release.

According to a press release, the firm’s work carrying out projects related to sustainable real estate development is well aligned with the Caisse’s investment strategy. In the release, Kim Thomassin, executive vice-president and head of Quebec at the Caisse, also said the firm has built a good reputation in major markets and has strong development potential.

“The collaboration between CDPQ and Bouthillette Parizeau will allow its team of seasoned professionals to pursue their objectives and their commitment to promising sectors and to further expand the firm across Canada.”

Read: CPPIB invests in Indian roads, Korean tower, buys Enbridge renewable power stake