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Plenary Group (Canada) Ltd. (“Plenary Americas”) and Caisse de dépôt et placement du Québec (“CDPQ”) has announced CDPQ’s acquisition of Plenary Americas, a leading investor, developer and operator of public infrastructure in North America.
With the investment, CDPQ acquires Plenary Americas’ operating business, with offices in Vancouver, Toronto, Los Angeles, Denver and Tampa, as well as a controlling stake in its existing public-private partnership portfolio.
With 36 projects, Plenary Americas’ collection of social and civil infrastructure assets is unique in both its geographic and sectoral diversification.
CDPQ describes the investment as a major transaction that further diversifies its infrastructure assets, noting a natural alliance between the two partners. CDPQ has invested in projects originated by Plenary Group since 2012, and in 2016 acquired a 20% interest in Plenary Australia.
Fort Capital Partners acted as financial advisor to Plenary Americas on the transaction. Law firms Davies Ward Philips & Vineberg and Fasken acted for Plenary Americas and CDPQ, respectively.