The prospect of the exit of Canada Pension Plan Investment Board (CPP Investments) and OMERS Infrastructure from the capital of UK’s largest ports group Associated British Ports (ABP) has become a reality with the achievement of an agreement for the sale of entire stakes in ABP to a fund managed by IFM Investors.
Toronto-headquartered CPP Investments and OMERS have agreed to terms with a fund managed by IFM Investors to sell each of their respective 33.9% and 30.0% stakes in Associated British Ports (ABP).
CPP Investments and OMERS initially acquired their stakes in 2015 and 2006 respectively.
The transaction is subject to customary shareholder and regulatory approvals and is expected to complete in the first half of 2027.
Financial terms were not disclosed.
ABP is the UK’s largest port operator, with a network of 19 strategically located ports across England, Scotland and Wales. ABP handles approximately 25% of UK seaborne trade.
In announcing the deal, asset manager IFM Investors expressed its willingness to support the continued development of ABP’s infrastructure and operations, drawing on its long-term investment approach and experience across ports and other essential infrastructure assets.
“We are pleased to have reached an agreement where a fund managed by IFM would acquire a majority stake in ABP, the UK’s largest ports group with strategically located assets serving some of the country’s most important trade and industrial regions,” said Kyle Mangini, global head of Infrastructure of IFM Investors. “We are excited to work closely with ABP’s management team, employees and our fellow shareholders to support the company’s continued success.”
As a global asset manager, founded and owned by Australian pension funds and the UK pension fund Nest, IFM Investors believes that this transaction reflects its commitment to mobilising pension capital into UK infrastructure.
