The Canada Pension Plan Investment Board is selling a 49 per cent stake in a portfolio of China real estate projects for nearly $235 million.
The assets are part of a joint venture with Chinese real estate company Longfor Group Holdings Ltd. and are being sold to an affiliate of Dajia Insurance Group Co. Ltd.
The portfolio consists of four retail malls with connected office and rental housing properties, located in Shanghai, Suzhou, Chengdu and Chongqing.
Read: CPPIB launching U.K. real estate joint venture, reinvesting $100 million in U.S. energy firm
The CPPIB is also closing a new minority investment in global software provider Regnology.
The financial details of the transaction weren’t disclosed. The investment is being completed alongside private equity investment firm and Regnology’s owner Nordic Capital.
In a press release, Sam Blaichman, managing director and head of direct private equity at the CPPIB, said Regnology has a leading position with a differentiated offering. “We expect this investment to deliver attractive risk-adjusted returns for CPP contributors and beneficiaries.”
In other news, the Ontario Teachers’ Pension Plan is making an investment in Omega Healthcare Management Services.
The financial details of the transaction weren’t disclosed. In a press release, Greg Nielsen, senior managing director of digital and information technology services at the Ontario Teachers’, said the organization is excited to join Goldman Sachs Asset Management’s alternative investment platform as an investment partner in Omega.
“While the U.S. health-care industry continues to face complexities, we see considerable opportunity in technology-driven solutions that improve efficiencies and reduce costs for healthcare providers,” he said.
The Ontario Municipal Employees’ Retirement System’s infrastructure arm, alongside Enbridge Transmission Holdings Inc., is selling a roughly 48 per cent stake in the East-West Tie Limited Partnership to a subsidiary of Hydro One Ltd.
Hydro One has agreed to purchase the interest in the partnership for $257 million in cash. According to a press release, the partnership owns a 450-kilometre, 230 kilovolt double-circuit transmission line that’s regulated by the Ontario Energy Board and spans from Wawa, Ont. to Thunder Bay, Ont.
“Hydro One, a prominent Canadian company that already owns and operates more than 90 per cent of Ontario’s transmission network, was considered the best strategic partner to support the company’s continued reliable operations,” said Michael Hill, executive vice-president and global head at the OMERS Management Inc., in the release.
Read: Caisse, OMERS commit US$400M to emerging market energy transition debt