{"id":17637,"date":"2019-11-25T10:33:49","date_gmt":"2019-11-25T15:33:49","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/cppib-ontario-teachers-increase-positions-in-mexican-infrastructure-139282"},"modified":"2019-11-25T10:33:49","modified_gmt":"2019-11-25T15:33:49","slug":"cppib-ontario-teachers-increase-positions-in-mexican-infrastructure","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/11\/25\/cppib-ontario-teachers-increase-positions-in-mexican-infrastructure\/","title":{"rendered":"CPPIB, Ontario Teachers\u2019 increase positions in Mexican infrastructure"},"content":{"rendered":"
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Staff<\/span> | November 25, 2019<\/p>\n

The Canada Pension Plan Investment Board and the Ontario Teachers\u2019 Pension Plan are increasing their positions in Mexican infrastructure firm Impulsora del Desarrollo y el Empleo en Am\u00e9rica Latina.<\/p>\n

IDEAL has 18 concessions throughout Mexico, including 13 toll roads, three logistics terminals and two wastewater treatment plants, as well as an electronic toll collection service business and an operations business. The CPPIB and Ontario Teachers\u2019 had previously partnered with IDEAL<\/a> on two toll roads.<\/p>\n

In the new agreement, the pension funds committed to launch a tender offer on the Mexican stock exchange for shares in IDEAL at MXN$43.96, subject to certain conditions. If the tender is successful, the CPPIB will take a 23.7 per cent interest in IDEAL and the Ontario Teachers\u2019 will take 16.3 per cent. IDEAL\u2019s existing majority shareholders will retain their position.<\/p>\n

Read: CPPIB and Teachers\u2019 invest in Mexican toll road<\/a><\/strong><\/p>\n

In addition, the partnership will form an infrastructure investment trust, which will be managed by an IDEAL subsidiary and funded by certain shareholders of IDEAL and the two pension funds. The trust will purchase partial stakes in four of IDEAL\u2019s toll roads. Once it\u2019s formed, the CPPIB and the Ontario Teachers\u2019 will launch a secondary offering to reduce their ownership of the trust to minority positions and make room for other investors.<\/p>\n

\u201cThis investment in IDEAL provides CPPIB with the valued opportunity to access a diversified portfolio of assets with stable cash flows, while also providing the opportunity for future growth through development opportunities in Mexico\u2019s<\/span> infrastructure sector,\u201d said Scott Lawrence<\/span>, managing director and head of infrastructure at the CPPIB, in a press release.<\/p>\n

Dale Burgess, the Ontario Teachers\u2019 senior managing director of infrastructure and natural resources, said the investment in IDEAL is an important addition to the fund\u2019s infrastructure portfolio. \u201cIDEAL is a leading Mexican infrastructure platform and provides Ontario Teachers\u2019 new capabilities to further invest in projects in the region.\u201d<\/p>\n

Read: Ontario Teachers\u2019 partners with Alphabet, Sidewalk Labs to launch infrastructure holding company<\/a><\/strong><\/p>\n

Ivanho\u00e9 Cambridge, the real estate arm of the Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec, is making a \u20ac60 million investment in Spanish real estate investment trust \u00c1rima Real Estate.<\/p>\n

Ivanho\u00e9 Cambridge is the company\u2019s largest shareholder and contributed the funds as part of \u00c1rima\u2019s \u20ac150 million euro capital-raising round.<\/p>\n

Stanislas Henry, the firm\u2019s head of strategic partnerships for Europe, will be appointed to \u00c1rima\u2019s board of directors, audit and control committee and remuneration and appointments committee. Ivanho\u00e9 Cambridge will also participate in \u00c1rima\u2019s investment committee.<\/p>\n

\u201cWe are very pleased to invest in \u00c1rima to support its future growth,\u201d said Karim Habra, Ivanho\u00e9 Cambridge\u2019s head of Europe and Asia-Pacific, in a press release. \u201cThe management team has a strong track record of performance and has built, in a very short time, an impressive portfolio of high-quality, value-add properties and a promising development pipeline. Madrid\u2019s office market is anticipating a sustained rental growth and we believe \u00c1rima is the right investment vehicle to take advantage of that <\/span>cycle.\u201d<\/p>\n

The fundraising round will allow \u00c1rima to continue with its investment strategy of acquiring assets with added value potential, active portfolio management and investing in assets\u2019 repositioning in order to maximize their occupation, quality and value.<\/p>\n

Read: Caisse boosts stake in Indian solar producer, CPPIB in Brazilian real estate joint venture<\/a><\/strong><\/p>\n

Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Staff | November 25, 2019 The Canada Pension Plan Investment Board and the Ontario Teachers\u2019 Pension Plan are increasing their positions in Mexican infrastructure firm Impulsora del Desarrollo y el Empleo en Am\u00e9rica Latina. IDEAL has 18 concessions throughout...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17637"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=17637"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17637\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=17637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=17637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=17637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}