The Public Sector Pension Investment Board is taking over Webster Ltd., an Australian agribusiness company, for A$854 million. While the PSP already owns 19.1 per cent of Webster’s ordinary shares, its subsidiary PSP BidCo is acquiring the total remaining ordinary shares for A$2 per share, which is a 57 per cent premium on Webster’s most recent closing […]
A real estate partnership co-owned by the Public Sector Pension Investment Board has broken ground on a $1.1-billion private student residence in London, England. The Cherry Park partnership, formed in March by the PSP, European real estate company Unibail-Rodamco-Westfield and Vancouver-based QuadReal Property Group, a subsidiary of the British Columbia Investment Management Corp., is expected to […]
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 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 […]
The Canada Pension Plan Investment Board and the Public Sector Pension Investment Board are part of a group investing in a new US$350-million fund focused on artificial intelligence. Radical Ventures, the company launching the fund, is a venture capital firm that invests in entrepreneurs involved in technology aimed at developing AI products, or applying AI, to […]
The Canadian Pension Plan Investment Board and the Public Sector Pension Investment Board, along with Apax Partners, have agreed to sell Acelity Inc. and its subsidiary Kinetic Concepts Inc. to the 3M Co. for $6.73 billion. “CPPIB is pleased to have supported KCI’s delivery of medical devices and products that benefit millions of patients around the […]
The Nova Scotia Teachers’ pension plan posted a net loss in assets for 2018, down to $4.94 billion from $5.11 billion at the end of 2017. On a going-concern basis, the plan’s funded status also dropped to 75.3 per cent, from 78.4 per cent, as at Dec. 1, 2018, according to the Teachers’ Pension Plan Trustee Inc., which […]
As part of an ongoing joint venture, the Public Sector Pension Investment Board is purchasing a purpose-built student accommodation in London, England. Together with Greystar Real Estate Partners and Allianz Real Estate, the PSP is taking on the property, called Paul St. East, from Apache Capital Partners for more than $241 million. The acquisition is part of the Chapter […]
The Public Sector Pension Investment Board is investing in Alliant Insurance Services Inc., a U.S.-based independent insurance broker. The new cash infusion will aid in the insurance broker’s planned expansion. Along with the PSP, funds managed by private equity firm Stone Point Capital will make additional investments. Read: PSP takes majority stake in Australian farm business “Alliant is […]
The Public Sector Pension Investment Board is taking on a majority stake in B.F.B. Pty Ltd., an Australia-based agricultural business. Currently, BFB has taken on more than 441 square kilometres of arable land and operates businesses in grain storage, fertilizer, agronomy, livestock, farming and logistics. “We’re impressed with BFB’s team, performance and integrated business model, and we’re excited to […]