The Caisse de dépôt et placement du Québec is buying a 30 per cent indirect stake in the Ohio subsidiary of energy firm AES Corp. for nearly US$546 million.
This is the Caisse’s second investment in the utilities company, after first investing in AES Indiana. The investment doesn’t grant the Caisse with a change in management or operational control of AES Ohio, according to a press release.
Read: Caisse investing in Quebec-based energy company, CPPIB buying stake in data centre operator
“This is a unique opportunity to invest alongside a trusted partner in regulated assets that play an important role meeting the electricity demands for over half a million customers,” said Emmanuel Jaclot, executive vice-president and head of infrastructure at the Caisse, in the release.
In other news, Neovantage Innovation Parks — a joint venture between Lighthouse Canton and Ivanhoé Cambridge, the Caisse’s real estate arm — is receiving a $50 million loan from HSBC Bank India.
According to a press release, this deal represents the first green loan in the life sciences real estate sector for the financial organization. Ivanhoé Cambridge holds a joint venture with the firm for a privately-managed life sciences real estate portfolio in South Asia.
Read: A look at Ivanhoé Cambridge’s mission to reposition
“The construction of Neovantage Innovation Parks demonstrates our commitment as a sustainable and innovative investor,” said George Agethen, head of real estate Asia-Pacific at the Caisse, in the release.
The British Columbia Investment Management Corp. is investing in the acquisition of the India-based operations arm of digital communications infrastructure firm American Tower. The deal is being completed by an infrastructure investment trust sponsored by Brookfield Asset Management.
The transaction was approved by the Competition Commission of India and includes nearly 76,000 communications sites in India with an enterprise value of US$2.2 billion, according to a press release.
Read: BCI investing in Indian telecommunications, CPPIB in Brazilian real estate