The fund manager, through its Australia Social Infrastructure Fund, has bought a 49.9 percent stake in the A$800m LEAP 2 project from Plenary Group. Palisade is now a co-investor in the project, as well as predecessor LEAP 1, alongside Plenary and the Caisse de depot et placement du Quebec.
Ferrovial, BAA’s largest single shareholder, has sold 10.62% of the firm to Qatar Holding for £478m, with Canada’s Caisse de depot et placement du Quebec and Singapore’s GIC divesting 5.63% and 3.75% respectively. Ferrovial now owns 39.37% of BAA.
Aviva Investors and Germany’s SachsenFonds have bought the 49.4MW Almatret wind farm in Lerida, Spain from Element Power. The insurer was recently involved in the ‘UK’s largest residential solar deal’.
The Canadian pension, together with the Utilities Trust of Australia fund, has upped its all-cash offer for the Hastings Diversified Utilities Fund to A$1.29bn. Hastings’ directors backed the consortium’s increased bid over APA’s mixed cash/scrip offer of A$1.33bn.
Funds jointly managed by the State Bank of India and Macquarie will make their first investment in the roads sector by putting $150 million into highway concessionaire Ashoka Concessions.
The Canada Pension Plan Investment Board said infrastructure returned 5.7% in the first quarter. The board in April bought half of Chilean toll road concern Grupo Costanera.
The deal – which sees Munich Re acquire 102MW of wind power – represents a ‘significant realisation’ for HgCapital’s first renewables fund.
Brisa’s main shareholders now control the majority of the company. But their IPO failed to net them the 90% needed to de-list the toll road operator from the Lisbon Stock Exchange.
The Australian natural gas operator has formally tabled an increased, A$1.33bn offer for the Hastings Diversified Utilities Fund. The fund’s directors have given rival consortium Caisse de depot et placement du Quebec/Utilities Trust of Australia until August 14 to come up with a counterbid.
Manish Aggarwal is the firm’s new investment and operations director – based in London – whereas Jake Houseman has been appointed senior vice president for the North American infrastructure team, based in New York.