OMERS’ portfolio company acquiring solar energy development platform

The Caisse de dépôt et placement du Québec is investing $35 million in a new energy transition fund from Quebec-based equity firm MacKinnon Bennett & Co.

The investment is part of a larger $145 million commitment alongside the Canada Growth Fund, Investissement Québec and BDC Capital. The fund will target growth-stage businesses commercializing emission reduction technologies in clean energy, mobility, built environment and industrials, according to a press release.

“It’s an opportunity for us to support climate technology that will have an impact on decarbonization and will shape our future,” said Kim Thomassin, executive vice-president and head of Quebec at the Caissse, in the release.

Read: Caisse investing further in sustainable transportation, Ontario Teachers’ in cybersecurity, IT management

The Alberta Investment Management Corp. is acquiring a portfolio of production and rural land assets in northern Australia.

The assets, collectively known as the Yeeda Aggregation, include a beef processing facility, a 475,000-hectare cattle station and a portfolio of eight residential properties. The financial details of the transaction weren’t disclosed.

“We believe this acquisition gives us the opportunity to create a vertically-integrated beef production and processing business in northern Australia,” said Ben Hawkins, executive managing director, head of infrastructure, renewable resources and energy transition at the AIMCo, in a press release.

Read: AIMCo acquiring Australian cattle portfolio company, IMCO adding $2.6BN in portfolio assets

In other news, the British Columbia Investment Management Corp. is investing $125 million in WSP Global Inc. through a private placement of subscription receipts. The investment will help finance the acquisition of U.S.-based consulting firm POWER Engineers.

“The proposed acquisition propels WSP to a top position within the North American power and energy engineering industry — adding another pillar of growth for the company in an area that is critical to the global energy transition,” said Jeff Morris, senior managing director active equities at the BCI, in a press release. “We believe the acquisition is both strategically and financially compelling and expect WSP’s growth will continue to create value for our clients.”

Read: BCI reports 7.5% annual return, assets grow to $250.4BN