Two of Canada’s largest pension funds will sell their combined stake in the UK’s biggest ports operator to a fund managed by IFM Investors
CPP Investments and OMERS have agreed to sell their respective 33.9 per cent and 30.0 per cent stakes in UK-based Associated British Ports (ABP) to a fund managed by Australian-based pension-fund-owned asset manager IFM Investors, the pension funds announced in a joint press release Wednesday.
The deal marks the end of long-duration infrastructure bets for both Canadian pension funds. According to the release, OMERS first acquired its stake in 2006, holding the position for roughly 20 years, while CPP Investments entered in 2015. Together they controlled nearly 64 per cent of ABP, which operates 19 port facilities handling approximately 25 per cent of UK seaborne trade.
James Bryce, managing director and head of infrastructure at CPP Investments, said the transaction is “an attractive opportunity to realize the value of our long-term investment and recycle capital into new opportunities.”
"ABP is a high-quality business which has an extremely important role to play supporting the U.K. economy in the years ahead and we are confident it will continue to thrive under new ownership," he added.
CPP Investments managed C$863.6 billion in total fund assets as of June 30, 2026.
OMERS framed its exit similarly. Luca Lupo, senior managing director and head of Europe at OMERS Infrastructure, said the fund is “actively exploring new opportunities to invest in high-quality infrastructure businesses” in the U.K. "The UK remains a priority market for OMERS Infrastructure," he said.
OMERS Infrastructure manages approximately C$40.9 billion across roughly 30 investments in North America, Europe, and Asia-Pacific.
Upon completion, IFM will hold a majority stake in ABP. The transaction aligns with IFM’s strategy of channelling pension capital into essential infrastructure.
“We look forward to supporting continued development of ABP’s infrastructure and operations, drawing on IFM’s long-term investment approach and experience across ports and other essential infrastructure assets,” Kyle Mangini, global head of infrastructure at IFM Investors, said.
The transaction is expected to close in the first half of 2027, subject to regulatory and shareholder approvals.
