The Public Service Pension Investment Board is teaming up with real estate investor Bridge Industrial to launch a joint venture targeting logistics properties in the U.K.

The pair aim to build a portfolio worth £1 billion ($1.7 billion) by acquiring and developing assets inside high-barrier infill markets in the Greater London and Midlands regions.

Read: Caisse investing in cloud data platform, PSP in biotech company

Stéphane Jalbert, Europe and Asia Pacific managing director for the PSP’s real estate investments division, said in a statement that the partnership would build on the pension’s existing logistics portfolio on the continent. “Urban logistics is a key sector for PSP globally, given the accelerated growth of e-commerce and the need to adapt real estate to meet consumer behaviour.”

In other investment news, the Ontario Teachers’ Pension Plan is getting into the Brazilian electricity market, having reached an agreement to purchase the Evoltz Participações S.A. electricity transmission platform from global alternative asset specialists TPG.

Read: Caisse investing in shipping and agri-food, Ontario Teachers’ in packaging company

The total length of the seven transmission lines in the Evoltz portfolio exceeds 3,500 kilometres, spanning 10 Brazilian states. The terms of the transaction weren’t disclosed, but Dale Burgess, the Ontario Teachers’ senior managing director of infrastructure and natural resources, said in a statement that it will fit the plan’s preference for high-quality, low-risk core infrastructure assets. “Electricity transmission businesses are particularly attractive given their importance in facilitating a transition to a low-carbon economy.”

Meanwhile, the Caisse de dépot et placement du Québec was among the investors as CTI Life Sciences Fund announced the first closing of its third venture capital pool.

Montreal-based CTI has received support from the Caisse since its inception in 2006 and it has promised to make the majority of the $100 million capital in its latest fund available to Canadian companies in the biotech sphere. According to a press release, the new fund will target start-up and clinical-stage biotherapeutics companies, as well as medical technology and healthcare IT organizations.

Read: Caisse investing in data centres, IMCO in life science real estate