The infrastructure arm of the Ontario Municipal Employees Retirement System is a acquiring a Texas-based wind power company.
As part of a deal announced on Thursday, OMERS will buy Leeward Renewable Energy, which operates 19 wind-power projects across the United States with an installed total capacity of 1.7 gigawatts.
“On behalf of OMERS Infrastructure, we are very pleased to announce our investment in Leeward, a high quality, core infrastructure business that we expect will generate stable and consistent returns for the OMERS pension plan,” said Ralph Berg, executive vice-president and global head of infrastructure at OMERS Private Markets, in a press release. “We look forward to working together with the management team at Leeward to continue the company’s growth trajectory.”
Read: Boosted by public equities, OMERS posts 11.5% return for 2017
Greg Wolf, Leeward’s chief executive officer, noted the company anticipates developing further projects to add to its portfolio. “Our team looks forward to continuing to operate our sizable portfolio safely, developing additional greenfield projects and executing on innovative repowering initiatives to build Leeward into an industry leader for years to come,” said Wolf.
In other investment news, the Caisse de dépôt et placement du Québec has invested $10 million in FX Innovation, an information technology consulting company based in Montreal.
“This investment aligns with our interest in companies that promote, through their services and products, digital transformation of businesses,” said Christian Dubé, executive vice-president for Quebec at the Caisse, in a press release. “With innovative and exportable solutions and its experienced management team, FX Innovation is well positioned to continue growing here and in new markets.”
Read: Caisse invests in expansion of Quebec-based software company
With the investment, FX Innovation will be focusing on expanding in North America, beyond its current offices in Quebec and Ontario, as well as in Boston and New York.
“We are very happy to collaborate with la Caisse de dépôt et placement du Québec, a long-term investor whose interests and value match our own,” said David Marotte, president and chief executive officer of FX Innovation. “Since our creation, we have enjoyed continuous organic growth. With la Caisse by our side, and its network and expertise in acquisitions, we can expand across Canada and the U.S.”
In addition, the Ontario Teachers’ Pension Plan has announced it’s investing nearly $400 million to take a 3.4 per cent stake in French video game giant Ubisoft.
Read: PSP Investments commits $20M to B.C.-based quantum computing company
The deal, which will allow French media company Vivendi to sell all of its Ubisoft shares, also includes an investment by Chinese multinational Tencent Holdings Inc., a share buyback by Ubisoft and an acquisition of shares by Guillemot Brothers SE.