Dutch manager APG forms joint venture to help ABP invest in Chilean forests
Dutch manager APG forms joint venture to help ABP invest in Chilean forests
Bloomberg
Dutch pensions provider APG formed a joint venture on behalf of its largest pension fund client to invest in forests in Chile.
On behalf of the €495.3 billion ($603.3 billion) ABP, Heerlen, Netherlands, APG formed the company with British Columbia Investment Management Corp. and South American investment bank BTG Pactual s timber investment group. BCI has C$171.3 billion ($141.9 billion) in AUM.
The new venture will invest $385.5 million in forestry in Chile, owning more than 80,000 hectares of Chilean forest across three regions. The company will be the third-largest wood producer in Chile, separate news releases by APG and ABP said. The forests contribute to the conservation of biodiversity and they are managed to take into account the social and economic well-being of workers and local communities.
Staff
The Caisse de dépôt et placement du Québec is one of two organizations investing a total US$940 million in Phoenix Tower International, a U.S.-based wireless communications infrastructure provider.
The investment will fund the company’s expansion in Europe as well as further growth in new and existing markets. The other investor is AMP Capital, an Australia-based global investment group.
“This financing builds on our previous experience to contribute to the expansion of digital infrastructure globally, alongside recognized industry leaders in this fast-growing sector,” said Marc Cormier, executive vice-president and head of fixed income at the Caisse, in a press release.
Alison MacAlpine
Jennifer Coulson has been engaged in responsible investing and environmental, social and governance factors for two decades and remembers a time when it was difficult to get access to chief executive officers to discuss her concerns. Not anymore. Today, senior leaders have a much better understanding of the importance of ESG factors and actively seek out her perspective.
“[ESG] was such a niche product 20 years ago, versus now, where it’s just part of our decision-making process,” says the Victoria, B.C.-based vice-president of ESG and public markets for the British Columbia Investment Management Corp., which manages more than $170 billion in assets for 12 public sector pension plans, three insurance funds and various special purpose funds in B.C. “I’m thrilled to see the momentum.”