MONTRÉAL, May 3, 2016 /PRNewswire/ - The Public Sector Pension Investment Board ("PSP Investments"), one of Canada's largest pension investment managers, announced today the completion of the split of Isolux Infrastructure Netherlands B.V. ("Isolux Infrastructure") with Grupo Isolux Corsan ("Grupo Isolux"). As a result of the transaction, PSP Investments is now the sole shareholder of Isolux Infrastructure, which will be renamed ROADIS. With a portfolio of 1,644 km of roads across 9 concessions located in Brazil, India, Mexico, Spain and the United States, ROADIS will serve as PSP Investments' new global road investment platform.
"Building partnerships with strong operators and leveraging industry-specialized platforms is one of PSP Investments' strategies to capture value and generate attractive returns. This transaction is an excellent example of this strategy being put to action," said Guthrie Stewart, Senior Vice President, Global Head of Private Investments at PSP Investments. "The ROADIS management team has proven capabilities to source and successfully execute new acquisitions in the road sector. We look forward to supporting them in growing the ROADIS portfolio in this new and exciting phase for this platform," Mr. Stewart added.
As part of the transaction, PSP Investments also acquired Grupo Isolux's indirect interest in the Wind Energy Transmission Texas, LLC joint venture ("WETT"), resulting in PSP Investments owning a 50% interest in WETT. Operational since 2014, this asset consists in 375 miles of 345 kV transmission lines and six switching stations. It is principally transporting electricity generated in the Competitive Renewable Energy Zones (CREZ) by wind farms located in Texas.
About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada's largest pension investment managers with CA$112 billion of net assets under management as of September 30, 2015. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments' principal place of business is in Montréal, with offices in New York City and London. For more information, visit www.investpsp.ca.
SOURCE PSP Investments