The infrastructure arm of the Ontario Municipal Employees’ Retirement System is investing in a fibre-optic communication network provider.
OMERS Infrastructure has agreed to make a significant capital commitment in Beanfield Technologies Inc., which operates 4,000 kilometres of fibre-optic broadband infrastructure network in Canada. The investment will be used to support the network’s expansion.
According to a press release, the investment is part of a strategy to capitalize on growth in the digital infrastructure sector. “Investing in the critical digital infrastructure sector in our home market has been a priority for us and we are delighted to enter into this partnership,” said Gisele Everett, senior managing director and head of Americas at OMERS Infrastructure, in the release.
In other investment news, the British Columbia Investment Management Corp. is increasing its stake in a U.K.-based electricity and gas utility company.
The institutional investor is part of a consortium, led by Macquarie Asset Management, acquiring a 20 per cent stake in National Grid’s gas transmission and metering business for £700 million (approximately $1.1 billion). In an earlier deal concluded in March, the consortium received a 60 per cent stake in the business for £2.1 billion (approximately $3.3 billion).
In a press release, the consortium said the deal, which hasn’t yet been approved by regulators, is expected to close before the end of the year.