The Ontario Teachers’ Pension Plan plans to acquire a $40 million interest in Altus Group Income Fund.
“We believe this proposed investment by Teachers’ reflects a confidence in Altus’s well earned industry reputation for best-in-class service,” says Gary Yeoman, chief executive officer of Altus. “With Teachers’ strategic participation, Altus would enjoy a strengthened capacity to pursue future acquisitions, and to focus on opportunities that will further enhance prospects for robust growth.”
Teachers will purchase Altus units at $17.25 each. The proposed investment is subject to final documentation and TSX approval and there can be no assurance that the transaction will be completed.
Toronto-based Altus is a provider of independent real estate consulting and professional advisory services worldwide. It has a staff of more than 1,100 with a Canadian national network of 30 offices in 23 cities throughout Canada and 6 offices throughout the United Kingdom.
To comment on this story, email craig.sebastiano@rci.rogers.com.