The Investment Management Corp. of Ontario is entering into a new fund that owns a British fibre optic business.
The fund was launched as part of a broader effort to recapitalize the EuNetworks Group, an internet infrastructure and network operator in which the IMCO holds a minority stake. The company, which manages 17 fibre internet networks in the E.U. and the U.K., sold its data centre and fibre optic infrastructure business to a new investment fund. EuNetworks’ existing investors, Stonepeak Infrastructure Partners, the IMCO and APG Asset Management, are the sole investors in the new fund.
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In other news, an insurance holding company co-owned by the Caisse de dépôt et placement du Québec and the Ontario Teachers’ Pension Plan is acquiring a US$2.6 billion annuity portfolio in South America.
Constellation Insurance Holdings’ Chilean subsidiary, Ohio National Seguros de Vida S.A., has reached an agreement to acquire the annuity portfolio of Zurich Insurance Group, a company that offers multi-line insurance. The portfolio’s assets are in reserves held in Chile.
The move is part of a broader strategy to expand Constellation’s holdings in Latin America, according to a press release, which noted the move will more than double its market share in Chile.
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