“We are excited to partner with Investcorp and PKFOD to provide strategic capital and work together to realize PKFOD’s full potential during their next chapter of growth,” said David Morin, Managing Director and Head of Private Equity in North America at PSP Investments, in the release.
Read: PSP Investments Generates 7.2% Annual Return and Net Assets Increase to $264.9 Billion
The PSP also announced that its wholly-owned airport platform, AviAlliance, had purchased three UK airports from Ferrovial and Macquarie.
The airport portfolio – located in Aberdeen, Glasgow and Southampton – was valued at £1.53 billion. Pending regulatory approval, the acquisition is expected to be completed by the first quarter of 2025.
“We are delighted to add AGS Airports to our infrastructure portfolio and look forward to working with our key stakeholders to improve services to the communities in which AGS Airports operates, recognizing the critical role these airports play in supporting the economic growth in Scotland and England. said Sandiren Curthan, Managing Director and Global Head of Infrastructure Investments at PSP Investments, in a statement.
Read: PSP Investments Acquires 40% Stake in Puerto Rico Airport
The Caisse de dépôt et placement du Québec announced the finalization of a transaction which will allow Nuvei Corp. become a private company. Before the transaction closed, the investment organization held 17.6 million shares of the Quebec payment technology company at a price of US$34 per share.
The Caisse is now a shareholder in Neon Maple Purchaser Inc., the purchaser of the transaction and owned by Advent International. The investment organization no longer beneficially owns or controls any shares of Nuvei and now holds approximately 12 percent of the equity in the resulting private company.
Read: La Caisse participates in a financing round for a Quebec payment technology provider
Furthermore, the British Columbia Investment Management Corp. sells American fiber optic Internet service provider Ziply Fiber LLC to Bell Canada. BCI initially acquired Ziply in 2020.
The company is valued at approximately $7 billion, with the accepted offer including nearly $5 billion in cash and the assumption of $2 billion of outstanding net debt rolled over upon closing of the transaction.
“Today, demand for fiber optic services remains very high, and we are excited about the opportunity for a well-known Canadian brand like Bell to leverage these core assets as it continues its new U.S. expansion strategy,” said Jim Pittman, executive vice president. president and global head of private equity at BCI, in a press release: “Our team continues to see opportunities in the fiber optic space and will continue to evaluate new opportunities in the sector.
Read: BCI, CPPIB and PSP agree to form a new Internet service provider