The Caisse de dépôt et placement du Québec has acquired a 20 per cent stake in Plenary Group Holdings, an investor, developer and public infrastructure manager based in Australia.
Plenary controls all of the company’s Australian operating businesses and holds a minority equity investment in the Plenary North America business.
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As part of the transaction, Plenary will issue additional shares in order to fund future projects.
“Given the scale of Australia’s infrastructure opportunities, this partnership will enable us to identify the best projects to generate stable and predictable returns over the long term,” Macky Tall, executive vice-president of infrastructure at Caisse, said in a news release.
Caisse has invested more than 200 million Australian dollars in seven Plenary projects in Australia since 2012.
The transaction is subject to government approval.
Caisse, which opened an office in Sydney last year, has also invested in other Australian assets, including the port of Brisbane, the electricity transmission network in the state of New South Wales and insurance distributor Greenstone.
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In other pension investment news, the Ontario Teachers’ Pension Plan has sold its stake in Canadian data centre operator Q9 Networks to BCE Inc.
The Teachers’ plan, Bell, Providence Equity Partners and Madison Dearborn Partners acquired Q9 in October 2012.
Bell will also acquire acquire all shares from Providence and Madison Dearborn.
The $675-million transaction is expected to close by the end of 2016.