The Public Sector Pension Investment Board is buying a majority stake in a passenger rail sector business it’s been invested in for the past 13 years.

According to the terms of the deal, PSP Investments and asset management company Amber Infrastructure Group Holdings Ltd. will buy a 51 per cent stake in Angel Trains Ltd. from the Australian investment management company AMP Capital Investors Ltd. The three organizations have been co-investors in the business since 2008.

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Angel Trains operates more than 4,300 passenger trains, the majority of which are electric powered. It employs about 130 professional, technical and administrative staff and supports thousands of skilled jobs in the U.K. rail sector.

In a press release, Patrick Charbonneau, the managing director and head of infrastructure investments at PSP Investments, expressed his confidence in the current trajectory of the locomotive fleet operator. “We look forward to the next phase of the company’s development, led by Angel Trains’ stellar management team, as we continue our partnership with Amber Infrastructure.”

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In other news, the British Columbia Investment Management Corp. reached a deal to sell a 50 per cent stake in a real estate portfolio to the Royal Bank of Canada Global Asset Management Fund for $1 billion.

The portfolio, managed by the BCI’s real estate arm, QuadReal Property Group, contains 12 core properties located in Vancouver, Edmonton and Toronto. The majority of the properties, which have a combined area of about 500,000 square metres, are zoned for industrial use. About 25 per cent of the properties are zoned multi-family residential use, including 843 residential rental units. QuadReal will remain responsible for the management of the properties.