Pension Pulse

Yesterday, the Investment Management Corporation of Ontario (IMCO) released its inaugural Environment, Social and Governance report: The Investment Management Corporation of Ontario (IMCO) today released its inaugural Environment, Social and Governance (ESG) report for the year ended December 31, 2021. IMCO’s 2021 report, “Adapting to a changing world”, is the first of its kind for the organization and summarizes extensive analysis conducted across the entire organization. “We view ESG as a strategic business imperative and it underpins every investment decision we make,” said Bert Clark, President & Chief Executive Officer. “We know that considering ESG issues can improve risk-adjusted investment outcomes for our clients, and we understand that our stakeholders want greater transparency on how organizations are managing ESG risks, notably climate change, in their business strategies.” IMCO’s inaugural report reflects the significant role ESG plays in its business and ...

Patrick de Bellefeuille of Méteo Média recently interviewed CDPQ's CEO, Charles Emond, on why Quebec's largest investor remains focused on sustainable investments (translated from French): In 2006, the eminent British economist Nicholas Stern concluded, in his famous report on the effect of climate change on the economy , that if nothing is done today, the cost will be much higher tomorrow. Since 2017, the Caisse de dépôt et placement du Québec has deployed a climate strategy that puts it into action. The Caisse has set itself the goal of reducing the carbon intensity of its portfolio by 60% by 2030 . According to Mr. Charles Emond, President and Chief Executive Officer of the Caisse de dépôt et placement du Québec, it is now in the Caisse's DNA to choose initiatives that are already green or to be greened. For this reason, the Caisse is investing an envelope of 10 billion dollars in companies that still use a lot of oil in order to green them. “The climate trans...

GIC, OMERS Infrastructure and Wren House recently announced they will acquire Direct ChassisLink Inc., one of the largest chassis lessors in the US: GIC, OMERS Infrastructure and Wren House have announced the signing of an agreement to jointly acquire Direct ChassisLink Inc. (DCLI) from investment funds managed by Apollo and EQT. DCLI is a leading chassis provider in the U.S., enabling over-the-road transportation of containerized freight to and from ports, railyards, and customer locations. Terms of the investment are not being disclosed. DCLI is one of the largest chassis lessors in the U.S. With over 151,000 marine and 100,000 domestic chassis in its fleet, DCLI operates out of strategic locations across key port and rail terminals in the U.S. DCLI is headquartered in Charlotte, North Carolina, and employs approximately 410 employees. Ang Eng Seng, Chief Investment Officer of Infrastructure, GIC , said: “As a global long-term investor, GIC seeks to invest in world-class...

Sebastien McCarthy of Private Equity News reports BC Partners inks €1bn healthcare acquisition: BC Partners is set to buy a European natural healthcare business in a deal that is understood be valued at just over €1bn. The private equity group has entered into exclusive discussions to acquire a majority stake in Havea, a French natural healthcare company serving the European market, from 3i Group. The deal has been led by BC Partners and is in partnership with PSP Investments and National Pensions Services Investment Management (NPS). BC Partners said it would look to “accelerate its pace of M&A with complementary businesses, and continue investing in digitalisation” . Havea currently employs over 800 people, and is headquartered in Boufféré, France. The company manufactures, designs and distributes products ranging from functional and natural food supplements, to natural personal care products for babies and women. 3i invested in Havea in 2017, completing five...