CPPIB is acquiring 23.7 per cent, while Teachers’ will take 16.3 per cent of the Mexico City-based firm, which owns 18 large infrastructure projects, including 13 toll roads. The deal is subject to approval by regulators. (The Logic)

Talking point: The Canadian pension funds invested in one toll road in partnership with IDEAL in 2016, and a second in 2018. This deal will give them stakes in four additional toll roads. CPPIB has been increasing its exposure to toll roads, which provide a steady source of recurring revenue. In August, the pension received court approval to buy an additional 10.01 per cent in Ontario’s Highway 407 for up to $3.25 billion. The two pension funds have worked together on major investments earlier this year. In March, they were part of a consortium buying a British satellite company for US$3.4 billion.