The Alberta Investment Management Corp. is buying an 85 per cent equity stake in the Northern Courier pipeline from TC Energy, formerly known as TransCanada Corp. After the transaction closes, which is expected to be in the third quarter of 2019, TC Energy will hold an aggregate 15 per cent share in the pipeline and […]
Canadian investors are keen to increase their allocations to alternatives over the next 12 months, according to a new survey by CIBC Mellon. Specifically, 58 per cent of Canadian institutional investors surveyed said they expect to increase allocations to this asset class and none said they expect to reduce allocations. This contrasts global findings in […]
The Canada Pension Plan Investment Board is acquiring a US$1.3 billion stake in LifeArc’s royalty interests on worldwide sales of immunotherapy drug Keytruda through its European credit group. The drug, which is intended to help the body fight certain forms of cancer, was developed by Merck Sharp & Dohme Corp. and has been approved in 85 countries. […]
SNC-Lavalin Group Inc. has cancelled the sale of part of its stake in 407 International Inc. to the Ontario Municipal Employees Retirement System pension plan but will sell the stake to one or both of the other owners of the Ontario toll highway. The Montreal-based company said Friday the Canada Pension Plan Investment Board, which already owns […]
Fiera Capital Corp. is acquiring Foresters Life Insurance Co.’s asset management business in an effort to beef up its offering for institutional clients, according to Jean-Philippe Lemay, Fiera’s president and chief operating officer. Montreal-based Fiera will buy Foresters Asset Management Inc., Foresters’ Toronto-based investment management subsidiary that’s focused on institutional and insurance liability-driven investment. The terms […]
The Ontario Teachers’ Pension Plan is selling its stake in BluEarth Renewables Inc. to DIF Infrastructure V, a European independent infrastructure fund. The Ontario Teachers’ was a founding shareholder in BluEarth, an independent renewable power producer that builds, owns and operates solar, hydro and wind facilities in North America. Following the sale, DIF V will own […]
The Canada Pension Plan fund ended its fiscal year on March 31, 2019, with net assets of $392 billion, compared to $356.1 billion at the end of fiscal year 2018. The $35.9 billion increase was made up of $32 billion in net income and $3.9 billion in net CPP contributions. Overall, the fund’s return for the year […]
The Caisse de dépôt et placement du Québec and U.K.-based Lightsource BP are investing $260 million to finance a portfolio of solar assets owned and managed by Lightsource. The debt investment will be used to finance a portfolio composed of more than 100 solar projects across various countries, totalling more than 700 megawatts, with the potential to expand over […]
The Public Sector Pension Investment Board, alongside private equity firm Lightyear Capital, is selling Advisor Group Inc. to Reverence Capital Partners. After the transaction closes in the third quarter of 2019, both the PSP and Lightyear will continue to hold minority stakes. Since the PSP and Lightyear acquired Advisor Group from AIG Inc. in May 2016, client assets grew […]
While defined benefit plans are traditionally known for their paternalism, defined contribution pensions represent the next generation. Learning from their parents’ years of investment experience, DC plans are catching up, but hurdles still exist in the quest to invest like DB plans. The liquidity question As more DC plan sponsors consider adding illiquid alternatives to […]