The Public Sector Pension Investment Board is investing in a life sciences campus in the U.K.
Capital Park Cambridge is a 17-hectare campus with about 2,500 square metres of workspace. It provides laboratories to 12 organizations, including the National Health Service. The facility is also located near a number of other science research facilities with connections to Cambridge University.
The investment is part of PSP Investment’s long-term strategy to invest in laboratories in centres of innovation across the U.K., according to a press release, including industrial sites in Cambridge, London and Oxford.
“Cambridge is a market that PSP Investments knows well from its current portfolio and, being one of Europe’s top innovation clusters, we look forward to continuing to support the growth of the life sciences industry in the U.K. while delivering strong risk-adjusted returns,” said Stéphane Jalbert, managing director and head of real estate investments in Europe and the Asia-Pacific region at PSP Investments, in the release.
Read: Fund backed by CPPIB, OMERS acquiring Indian road portfolio; CPPIB investing in life sciences service provider
In other news, the Caisse de dépôt et placement du Québec is investing in a Quebec-based heavy equipment manufacturer.
The company, Groupe R-Y Beaudoin, which manufactures aftermarket parts for industrial vehicles, has undergone a period of growth with sales climbing from $3.5 million in 2015 to more than $250 million in 2021. In the same period, its workforce grew from 20 employees to more than 1,000.
The capital raised by the investment will be used to fund the company’s acquisition of three original equipment manufacturing businesses based in Quebec.
“Alongside a visionary and ambitious management team that has demonstrated its ability to generate growth both organically and through acquisitions, we intend to continue supporting GRYB with their expansion and diversification strategy,” said Kim Thomassin, executive vice-president and head of Quebec at the Caisse.
Read: Ontario Teachers’ financing European digital brokerage platform, CPPIB investing in wind energy generation