{"id":20199,"date":"2020-11-12T15:00:46","date_gmt":"2020-11-12T20:00:46","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/caisse-cppib-ontario-teachers-invest-in-insurance-company-152502"},"modified":"2020-11-12T15:00:46","modified_gmt":"2020-11-12T20:00:46","slug":"caisse-cppib-ontario-teachers-invest-in-insurance-company","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/11\/12\/caisse-cppib-ontario-teachers-invest-in-insurance-company\/","title":{"rendered":"Caisse, CPPIB, Ontario Teachers\u2019 invest in insurance company"},"content":{"rendered":"<div class=\"alignleft clearfix\">\n<div class=\"wp-caption feature-image alignleft\"> <img decoding=\"async\" loading=\"lazy\" width=\"350\" height=\"263\" src=\"https:\/\/www.benefitscanada.com\/wp-content\/uploads\/2020\/11\/94188505_123RF_HandshakeDealInvestment-350x263.jpg\" class=\"attachment-feature size-feature wp-post-image\" alt=\"Copyright_choreograph_123RF\" title=\"Caisse, CPPIB, Ontario Teachers\u2019 invest in insurance company\"> <\/div>\n<\/p><\/div>\n<p class=\"byline\"> <span>Staff<\/span>&nbsp;|&nbsp;November 12, 2020 <\/p>\n<p>The Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec, the Canada Pension Plan Investment Board and the Ontario Teachers\u2019 Pension Plan are entering into subscription agreements with Intact Financial Corp. to support its conditional acquisition offer for RSA Insurance Group.<\/p>\n<p>The Caisse, the CPPIB and the Ontario Teachers\u2019 are committing $1.5 billion, $1.2 billion and $500 million, respectively.<\/p>\n<p><strong>Read: <a href=\"https:\/\/www.benefitscanada.com\/news\/cppib-to-sell-stake-in-london-real-estate-caisse-invests-in-renewable-assets-in-spain-150965\">CPPIB to sell stake in London real estate, Caisse invests in renewable assets in Spain<\/a><\/strong><\/p>\n<p>\u201cThis is a significant opportunity to acquire an interest in a highly-differentiated insurer with a track record of growth and outperformance,\u201d said&nbsp;Bill MacKenzie, managing director and head of active fundamental equities at the CPPIB, in a press release.<\/p>\n<p>In a statement provided to&nbsp;<em>Benefits Canada<\/em>, Karen Frank, senior managing director of equities at the Ontario Teachers\u2019, said the pension fund is pleased to be able to support Intact in the acquisition. \u201cWe have full confidence in Intact\u2019s ability to generate shareholder value with this transaction given their strong track record over many years.\u201d<\/p>\n<p><strong>Read: <a href=\"https:\/\/www.benefitscanada.com\/news\/ontario-teachers-opening-singapore-office-150077\">Ontario Teachers\u2019 opening Singapore office<\/a><\/strong><\/p>\n<p>In other investment news, the Ontario Teachers\u2019 is part of a joint US$1.25 billion investment in Equis Development Pte Ltd., a company specializing in renewable energy, power grid distribution and transmission and waste infrastructure assets in the Asia-Pacific region.<\/p>\n<p>Other investors include the Abu Dhabi Investment Authority and the Equis management team. EDL is currently developing or constructing 40 assets across its target markets.<\/p>\n<p>\u201cThe company fits with our greenfield and renewables strategy to focus on development stage opportunities through high-quality platforms,\u201dsaid Ben Chan, regional managing director for Asia at the Ontario Teachers\u2019, in a press release. \u201cWe believe this investment will help us build scale in Asia and grow our exposure to renewables.\u201d<\/p>\n<p><strong>Read:&nbsp;<a href=\"https:\/\/www.benefitscanada.com\/news\/cppib-buying-u-s-based-renewable-energy-developer-138293\">CPPIB buying U.S.-based renewable energy developer<\/a><\/strong><\/p>\n<p> <a href=\"https:\/\/www.benefitscanada.com\/news\/caisse-cppib-ontario-teachers-invest-in-insurance-company-152502\">Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Staff&nbsp;|&nbsp;November 12, 2020 The Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec, the Canada Pension Plan Investment Board and the Ontario Teachers\u2019 Pension Plan are entering into subscription agreements with Intact Financial Corp. to support&#46;&#46;&#46;<\/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\/20199"}],"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=20199"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20199\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}