The Alberta Investment Management Corp. is considering purchasing a stake in the Trans Mountain pipeline, according to a report by BNN Bloomberg.
“We have an active file on Trans Mountain,” said Evan Siddall, chief executive officer at the AIMCo, in the report. “We would look at it. The government knows that and we’re keeping track of the situation.”
The Trans Mountain pipeline, which was purchased by the federal government from Kinder Morgan in 2018, is set to complete an expansion later this year.
In other news, the Caisse de dépôt et placement du Québec is consolidating its real estate arms Ivanhoé Cambridge and Otéra Capital to improve efficiency.
The investment organization expects to complete the process within the next 18 to 24 months, according to a press release, which noted the integration will result in $100 million in annual savings. While both subsidiaries’ investment teams will become a part of the Caisse, they’ll continue to conduct business under their respective brands.
“We want to work as one team . . . and build on the unique know-how of our talent to create value for our depositors,” said Charles Emond, president and chief executive officer of the Caisse, in the release.
The Caisse, along with the National Bank of Canada and the Fonds de solidarité FTQ, is also backing the acquisition of Quebec-based sustainable energy company Fusion Énergie by architectural firm Lemay. Details of the transaction weren’t disclosed.
“This transaction will promote the development of sustainable solutions in architecture and real estate, while furthering the innovative ambitions of this award-winning Quebec architectural firm,” said Kim Thomassin, executive vice-president and head of Québec at the Caisse, in a press release.