An insurance holding company backed by the Caisse de dépôt et placement du Québec and the Ontario Teachers’ Pension Plan is making its inaugural transaction, valued at US$1 billion. Constellation Insurance Holdings Inc. will acquire Ohio National Mutual Holdings Inc. and its wholly-owned subsidiary Ohio National Financial Services Inc., a deal that includes both member […]
Canada’s pension funds are shifting asset management functions in-house while becoming more strategic about oversight of external managers, according to a new survey from CIBC Mellon. It found pension funds are increasing the portion of assets and investment activities managed in-house to 28 per cent from 22 per cent, with the majority of pension funds […]
The Ontario Teachers’ Pension Plan is cashing in on the recent GameStop Corp. stock rally, after selling its shares in a U.S.-based retail real-estate company that saw its value skyrocket as a result. In late January, the Ontario Teachers’ sold its 16.4 per cent share in Macerich Co. for nearly US$500 million, according to data […]
The Public Sector Pension Investment Board is entering a $700-million joint venture investing in single-family rentals in the U.S. The new venture with Pretium Partners will initially fund units across major markets in the southeastern and southwestern U.S., according to a press release. Read: PSP selling stake in European rail lessor, investing in health-care technology […]
Following an unprecedented 2020, Canada’s plan sponsors and pension plans are incorporating the lessons of the last year as they prepare for a new decade, according to a recent webinar hosted by Mercer Canada. The coming years will be marked by developments including increased geopolitical tensions and the lingering economic effects of the coronavirus pandemic, […]
A portfolio company of the Ontario Municipal Employees Retirement System’s infrastructure arm is entering a purchase agreement to acquire a 10-gigawatt solar project development platform. Through the deal, U.S.-based Leeward Renewable Energy will acquire the platform from First Solar Inc., which includes 773 megawatts of projects in California and the southern U.S. that are expected to […]
The Ontario Teachers’ Pension Plan is committing to achieving net-zero greenhouse gas emissions by 2050. The commitment includes the establishment of concrete targets for portfolio emissions as well as increased investments in climate solutions, according to a press release, which noted the Ontario Teachers’ will also ensure portfolio companies manage and report their emissions annually. […]
The Caisse de dépôt et placement du Québec is investing in its first transportation project with the purchase of a 67-kilometre highway in India. The asset will be the Caisse’s first acquisition through its new investment trust dedicated to road infrastructure in India, noted a press release. Project operations started in December 2011, with an […]
The Canada Pension Plan Investment Board is one of three investors entering a partnership with real estate developer SKR to develop, own and operate a purpose-built rental multi-family project in São Paulo, Brazil. The 220-unit mixed-use project is expected to be completed in 2023, according to a press release. Other investors include Cyrela Brazil Realty […]
The Public Sector Pension Investment Board is selling its stake in Alpha Trains, a Europe-based lessor of locomotives and passenger trains. The PSP, which has invested in Alpha Trains since 2008, will sell its interest to the PGGM Infrastructure Fund, a Netherlands-based cooperative pension fund service provider. “Alpha Trains is a unique business with a […]