The Canada Pension Plan Investment Board is entering a joint venture to develop multifamily residential communities in high-growth metropolitan areas of the U.S. The institutional investor has allocated US$979 million for a 96 per cent share in the venture. Its partner, LMC, a real estate management business and wholly owned subsidiary of Lennar Corp., will be […]
The British Columbia Investment Management Corp. is selling its stake in a Toronto-based trucking company. The investment manager will sell Pilot Freight Services, which specializes in transporting bulky business-to-business and business-to-consumer products, to Danish shipping company AP Moller-Maersk. According to the terms of a deal with the company’s current co-owners, the BCI and Atlanta Capital […]
More than 100 global institutional investors and asset managers are committing to a project that seeks to standardize environmental, social and governance metrics to provide a mechanism for comparative reporting in the private equity industry. The ESG Data Convergence Project, which was launched in September 2021, now includes commitments from the British Columbia Investment Management […]
Canada’s largest public pension plans are more heavily invested in private equity than other global public pension plans, according to a new report by British think tank the Official Monetary and Financial Institutions Forum. “What really distinguishes the Canadian model is this large exposure to private equity, which stands out from across the sample, . […]
The British Columbia Investment Management Corp. is updating its code of ethics and personal conduct to include a section outlining its expectations from employees around diversity, equity and inclusion-related issues. Following a review of the 2018 version of the code earlier this year, the BCI’s board put forward recommendations and a new version was published […]
Canada’s $4 trillion pension sector could enjoy immense commercial benefits by aligning with the transition to net-zero emissions and helping to mobilize $140 billion of low carbon investments per year, according to a new report by Corporate Knights, the Natural Step Canada and the Smart Prosperity Institute. It found Canada’s 12 largest pension fund managers […]
The Ontario Teachers’ Pension Plan is entering into an agreement to buy a bank that offers reverse mortgage solutions. The acquisition of HomeQ Corp., the parent company of HomeEquity Bank, from Birch Hill Equity Partners Management Inc. and other minority shareholders, is subject to regulatory approvals, which are expected to take place in the first […]
The Public Sector Pension Investment Board is buying a majority stake in a passenger rail sector business it’s been invested in for the past 13 years. According to the terms of the deal, PSP Investments and asset management company Amber Infrastructure Group Holdings Ltd. will buy a 51 per cent stake in Angel Trains Ltd. […]
The British Columbia Investment Management Corp. is once again voting against nine proposals supported by the board of China Gas Holdings Ltd., including the re-election of five corporate directors. During its recent annual general meeting, the Hong Kong-based energy company’s management team had requested that investors vote in favour of the re-election of board members […]
The British Columbia Investment Management Corp. is selling its interest in a window covering company. The BCI and its co-owner AEA Investors Ltd. signed a definitive agreement to sell Springs Window Fashions to Clearlake Capital Group. Under the terms of the deal, Springs’ chief executive Eric Jungbluth will continue to lead the company following the transfer of […]