BIG MONEY: 3 Canadian Pension Cross-Border Real Asset Deals

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Canadian pension institutional investors like OMERS and CPPIB continue their global search for long-duration, cash-flowing assets.

#1. Mexican Infrastructure

On April 13, Caisse de dépôt et placement du Québec (CDPQ) partnered with Mexican infrastructure company Empresas ICA, S.A.B. de C.V. by investing C$ 267.7 million in a joint venture for a 49% interest. Empresas ICA sold its stake and will hold 51% of the JV. Initially, this JV will operate four highway toll systems in Mexico. The investment portfolio includes a tunnel in Acapulco, the Mayab toll road, the Rio Verde-Ciudad Valles Highway and La Piedad bypass. In March 2008, a subsidiary of Empresas ICA acquired all of the equity of Consorcio del Mayab, S.A. de. C.V. (holder of the Mayab toll road) for 870 million MXN. The La Piedad bypass plays a role in connecting the Mexico City-Nogales and Querétaro-Ciudad Juárez highway corridors.

#2. Ivanhoé Cambridge Makes First Direct Investment in Australia

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