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IFM Investors partners with CDPQ on the Indiana Toll Road
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NEW YORK and MONTRÉAL, April 19, 2021 /PRNewswire/ - IFM Investors ( IFM ) and Caisse de dépôt et placement du Québec ( CDPQ ), a global investment group, are pleased to announce that CDPQ has acquired a 15% interest in the Indiana Toll Road ( ITR ) from a subsidiary of the IFM Global Infrastructure Fund ( IFM GIF ). Following completion of the sale, IFM GIF continues to own more than 70% of ITR.
The Indiana Toll Road is a 157-mile (252 km), limited access, divided highway in the state of Indiana which is operated and maintained under a Concession and Lease Agreement with the Indiana Finance Authority ( IFA ). The road spans northern Indiana, from its border with Ohio to the Illinois state line near Chicago, feeding directly into two toll roads at the state lines – the Chicago Skyway in the west and the Ohio Turnpike in the east. Since IFM s acquisition in 20
IFM rules out new thermal coal projects after $2.9b energy deal
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One of the country’s largest infrastructure investors has ruled out investing in any new thermal coal assets, after announcing a $C2.8 billion ($2.9 billion) acquisition of an energy-efficient heating operation in Canada.
IFM Investors, which manages $148 billion for Australian superannuation funds, announced plans on Wednesday to acquire a 50 per cent stake in Canadian heating and cooling operator Enwave in a joint venture with the Ontario Teachers’ Pension Plan Board.
IFM head of infrastructure Kyle Mangini says the $148 billion fund will not invest in new thermal coal projects.
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IFM Investors and Ontario Teachers’ Pension Plan Board (“Ontario Teachers”) are pleased to announce that they have entered into a definitive agreement with Brookfield Infrastructure (NYSE: BIP; TSX: BIP.UN) to jointly acquire a 100% interest in the Canadian district energy operations owned by Enwave Energy Corporation (“Enwave”) for C$2.8 billion on an enterprise value basis. IFM Investors and Ontario Teachers’ will retain the Enwave brand as part of this transaction and each will own 50% of the company.
Enwave is a fully integrated district energy business that provides innovative, sustainable district cooling and heating solutions to over 320 customers across a range of sectors in Canada. Spanning Toronto, London, Windsor and Charlottetown, Enwave’s distribution network is well diversified across services and customers.
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