Some of Canada’s top pension funds are holding back on U.K. deals until after June 23, when Britons vote on whether to leave the European Union, according to an article in the Globe and Mail.
The newspaper spoke off the record to a senior executive at one of Canada’s biggest public pension who said the risks posed by the vote were part of the reason it passed on a recent deal for an office property in London’s financial district.
Canadian pension funds are among the world’s biggest investors in British real estate and infrastructure, including the Canada Pension Plan Investment Board, which invested about £1.6 billion (C$2.9 billion) to acquire a stake in Associated British Ports in March 2015, and OMERS, which acquired British consulting firm Environmental Resources Management in June 2015.
Read: CPPIB invests in U.K. ports
Read: OMERS buys British consulting firm
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