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The federal pension fund manager is expanding its Canadian infrastructure portfolio with its investment in Enercare, a Markham, Ont.-based company that rents and sells water heaters, furnaces, air conditioners and other home equipment. (The Logic)
Talking point: The deal advances the Public Sector Pension Investment Board’s ambition to grow its Canadian investments from more than $75 billion to $100 billion in the coming years. CEO Deborah Orida previously told The Logic that infrastructure investment will likely account for a significant share of that growth. PSP, which has held a minority stake in Enercare since Brookfield took it private in 2018, will become an equal owner alongside the investment firm. PSP will hold the investment in its portfolio of infrastructure assets expected to perform well during periods of high inflation, benefiting from Enercare’s recurring rental revenue. The transaction is expected to close in the first half of 2027.
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