The Canada Pension Plan Investment Board is investing roughly US$515 million to acquire a 24.5 per cent stake in video games service provider Keywords Studios.
The acquisition of the Ireland-based firm is being completed alongside EQT AB and Temasek Holdings Ltd. In a press release, Caitlin Gubbels, senior managing director and head of private equity at the CPPIB, said Keywords Studios supports the global video gaming ecosystem through its extensive footprint and diversified revenue streams.
“We look forward to strengthening Keywords Studios’ market leadership and driving value creation alongside the management team and our longstanding partners, EQT and Temasek.”
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In other news, the Alberta Investment Management Corp. and the Ridgeback Group are acquiring Mitre Yard, a U.K.-based build-to-rent development.
According to a press release, the residential development features 241 apartments with 5,000 square feet of commercial retail space. The financial details of the transaction weren’t disclosed.
“AIMCo continues to have confidence in the U.K. BTR sector and, in particular, we have sought to increase our exposure to the dynamic London market where the current viability challenges are continuing to constrain future supply,” said Rupert Wingfield, head of European real estate at the AIMCo, in the release.
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The AIMCo is also investing in the latest financing round for Timbercreek Capital Inc.’s Ireland-based real estate fund, which has so far raised C$185 million.
In a press release, Sarah Esler, managing director and head of mortgage investments at the AIMCo, said the investment organization sees a direct opportunity to invest in a company that provides geographic diversification to its mortgage investment portfolio.
“We are excited to partner with Timbercreek Capital on this investment and believe it will deliver strong risk-adjusted returns for AIMCo’s clients.”
Read: AIMCo returns 5.4% in first half of 2024, driven by public equities