Pension Pulse

The Canadian Press reports CDPQ is buying 50% stake in Montreal toll bridge A25 Concession for $355M: The Caisse de dépôt et placement du Québec has signed an agreement with Transurban to acquire a 50 per cent stake in the A25 Concession, a toll road and bridge network in Montreal. The deal is valued at $355 million. The deal is valued at $355 million. The A25 toll bridge serves northeastern Montreal and eastern Laval. The 50 per cent stake will give CDPQ co-control of the A25 Concession. CDPQ says it is its second major partnership with Transurban following its 2021 investment in WestConnex, an Australian road infrastructure project. The A25 deal is expected close by March 31, subject to closing conditions. SWFI also reports CDPQ acquires 50% of Montreal’s A25 concession from Transurban: Caisse de depot et placement du Quebec (CDPQ) reached an agreement with Transurban for the acquisition of a 50% interest in the A25 Concession, a 7.2-kilometer toll road and bridge network

Benefits Canada reports CPPIB invests in Indian real estate fund, BCI-owned utility company completes acquisition: The Canada Pension Plan Investment Board is investing US$205 million as an anchor investor in IndoSpace’s new real estate fund in India. The investment marks the first close for IndoSpace Logistics Parks IV, the real estate company’s fourth development vehicle, which is targeting US$600 million of total equity commitments . In 2017, the CPPIB and Indospace established a joint venture.  It now owns the largest portfolio of stabilized modern logistics assets in India. Following the latest investment, the partnership will exceed US$1 billion in assets. Logistics Parks IV will add an additional 25-30 million square feet to the IndoSpace portfolio. It will focus on India’s largest logistics real estate markets: Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune. Its establishment follows the first three development funds, which have a combine

Sarah Min and Jesse Pound of CNBC report stocks fall on Friday, but S&P 500 notches winning week as strong 2023 continues: Stocks fell Friday as a strong jobs report worried some investors that the Federal Reserve would keep hiking rates. Still, the S&P 500 notched its fourth weekly gain in five weeks as investors bet falling inflation is ahead. The S&P 500 declined 1.04% to 4,136.48. The Nasdaq Composite shed 1.59% to 12,006.95. Meanwhile, the Dow Jones Industrial Average slipped 127.93 points, or 0.38%, to 33,926.01 — even as Apple shares gained. Regardless, the broader market index and Nasdaq Composite notched a positive week. The S&P 500 closed the week higher by 1.62%. The Nasdaq Composite gained 3.31%, posting its fifth-straight winning week as it rode a tech-fueled rally to outperform the other major indexes. Meanwhile, the Dow was the outlier, down 0.15%. Investors absorbed a stronger-than-expected January jobs report that spurred bond yields higher.