The Canada Pension Plan Investment Board is investing approximately $1.2 billion in energy infrastructure firm Tallgrass Energy.
The Denver-based company manages more than 10,000 miles of pipeline assets across 14 U.S. states and is also engaged in initiatives aligned with energy transition efforts.
“With a business strategy that combines traditional energy and decarbonization solutions, Tallgrass is an attractive investment opportunity because of its dual role in delivering against growing energy needs and increasing decarbonization opportunities,” said Bill Rogers, managing director and global head of sustainable energies at the CPPIB, in a press release.
The CPPIB is also evaluating the sale of a debt assets portfolio located in Spain, according to a report from Bloomberg. The sale package is compromised of unsecured, non-performing loans worth about €300 million, the report said.
In other news, the Caisse de dépôt et placement du Québec is investing $158 million in WSP Global Inc. to help fund a $2.4 billion acquisition of power and energy consulting firm POWER Engineers.
Read: OMERS investing in solar energy service, Caisse and CPPIB reinvesting in professional services firm
“Through this investment, [the Caisse] is reaffirming its long-standing commitment to WSP, allowing the company to carve out an influential position in the global power and energy industry and contribute to the transition under way,” said Kim Thomassin, executive vice-president and head of Quebec at the Caissse, in a press release.
The University Pension Plan completed an investment deal in Rowan Digital Infrastructure alongside Quinbrook Infrastructure Partners. The financial details of the transaction weren’t disclosed. The company supports hyperscale data centre users to meet development needs.
“Beyond adding important inflation-hedging properties to UPP’s investment portfolio, our investment in Rowan Digital Infrastructure provides a unique opportunity to help fund the critical infrastructure required for the growth of data centres with renewable energy sources,” said Peter Martin Larsen, senior managing director and head of private markets at the UPP, in a press release.
Read: UPP generates net return of 10.2% in 2023, net assets increase to $11.7BN