The Public Sector Pension Investment Board and Aviva Investors are teaming up to invest £250 million in a commercial property in Cambridge, U.K.

The agreement marks the second time the two organizations have teamed up on a real estate investment. In 2015, they invested in a portfolio of commercial properties in central London, currently valued at more than £400 million.

As part of the new investment, the pair will acquire a mix of ground-up and standing assets located in the CB1 Estate in Cambridge.

Read: Caisse invests in budget hotel chain, CPPIB and PSP complete sale of medical devices company

“Building on our existing partnership with Aviva, PSP is continuing its strategy of investing in key innovation markets,” said Stéphane Jalbert, managing director for Europe and Asia Pacific in real estate investments at the PSP, in a press release. “Cambridge is one of the U.K.’s leading knowledge clusters for artificial intelligence and life sciences, and we believe the regeneration of the Station Road area will outperform in the long term.”

In other investment news, the Caisse de dépôt et placement du Québec is investing in Amplitude, a Quebec-based life sciences fund, supporting medical startups.

Amplitude has now obtained more than 50 per cent of its financing target for its fresh $200-million fund, with the Caisse, BDC Capital, Fonds de solidarité FTQ, Teralys and Investissement Québec all participating so far.

Read: PSP, Alberta Teachers’ to buy Canadian natural gas and renewables company

“This investment aligns with our commitment to support companies operating in life sciences, which is a growing sector of our innovation economy,” said Charles Émond, executive vice-president and head of Quebec investments and global strategic planning at the Caisse, in a press release. “With the progress in recent years on data analysis and new technology integration, new medical treatments are developing at a rapid pace. Amplitude is well positioned to benefit from this transformation and support the companies that will stand out.”

The Caisse is also acquiring Global Infrastructure Partners’ road platform in India. It currently comprises seven operating road assets. 

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

Join us on Twitter

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required