Connect with us

Canadian Public Investors Have Big Week in Energy Infrastructure

Published

on

On January 31, the Canada Pension Plan Investment Board (CPPIB) acquired a 10.4% stake in Transportadora de Gas del Perú S.A. (TgP) from Graña y Montero for US$ 200 million. Graña y Montero is the biggest engineering and construction company in Peru. Graña y Montero also sold a 0.91% interest to Corporación Financiera de Inversiones for US$ 17.3 million. After both deals, Graña y Montero will hold a 1.64% equity stake in TgP. In November 2013, Graña y Montero bought the 12.38% stake in TgP from Argentina-based Pluspetrol Resource Corporation.

In addition, Spanish energy giant Repsol SA sold their 10% stake in TgP to Madrid-based Enagás SA for around US$ 219 million. Enagás SA also entered into a deal to acquire U.S.-based Hunt Oil’s stake in TgP for nearly US$ 272 million.

TgP is the largest mover of natural gas and natural gas liquids in Peru. In fact, in 2012, the asset delivered nearly 95% of Peru’s total volume of natural gas from Blocks 88 and 56 of the Camisea gas fields. Located in the Peruvian Amazon, the Camisea gas fields are near the Urubamba River. Natural gas extraction in the area isn’t without controversy as the gas fields are near the Nahua-Nanti Reserve.

The CPPIB is keen on Latin American energy infrastructure. TgP’s clients include the largest power generators, natural gas distributors and industrial firms in Peru.

Borealis Infrastructure Acquires Interest in Bruce Power B

On the same day as CPPIB’s stake investment in TgP, Borealis Infrastructure, the infrastructure arm of OMERS, signed a deal to acquire 31.6% of Bruce Power B for $450 million from Cameco Corporation, a Uranium miner. Bruce B operates 4 of 8 reactors in the world’s large nuclear generating facility in Tiverton, Ontario – generating 30% of Ontario’s 2013 electricity. Borealis’ ownership in Bruce Power B post-deal rises to 56.1%. Other investors in Bruce Power include: TransCanada Corporation, the Power Workers’ Union and the Society of Energy Professionals. Canada’s largest public-private partnership is Bruce Power – the assets remained owned by the government of Ontario.

Michael Rolland, president and CEO of Borealis, commented in a press release, “Bruce Power is an investment that continues to fit with our long-term strategy to invest in core, large-scale and high-quality infrastructure assets. It also plays a critical role in meeting the supply needs of the province of Ontario.”

CIBC World Markets Inc. acted as a financial advisor to Cameco Corporation.

Angolan Government Cancels Port Concession, Reviews Others

Published

on

Atlantic Ventures SA, which has ties to Isabel dos Santos (daughter to former Angolan president,) lost its concession rights to construct a US$ 1.5 billion port – the Barra do Dande port – near Luanda. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Egyptian Parliament Passes Draft Law on Misr Fund

Published

on

Egypt’s state news agency revealed the country is forming a sovereign wealth fund with initial capital of 5 billion Egyptian pounds, with 1 billion Egyptian pounds of that amount being immediately transferred from the Egyptian public treasury. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Capital Constellation Backs Middle Market PE Platform

Published

on

Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.