Borealis Infrastructure has agreed to acquire an additional 5.5 percent interest in the holding company of Thames Water Utilities Ltd, a U.K. provider of water and wastewater services. No financial terms were disclosed for the deal, which is expected to close this year. The seller is Australia’s AMP Capital. Borealis, the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS), originally became an investor in Thames Water earlier in 2017. The additional investment will increase its overall stake in the company to about 23 percent.
Borealis Infrastructure Increases Investment in Thames Water
LONDON (JULY 26) – Borealis Infrastructure (“Borealis”), the infrastructure investment manager of OMERS, the pension plan for municipal workers in Ontario, Canada, today announced the purchase of an additional 5.5% interest in Kemble Water Holdings Limited, the ultimate holding company of Thames Water Utilities Limited (“Thames Water”), from AMP Capital. The transaction is expected to close later in the year.
Thames Water is the UK’s largest water and wastewater company, a crucial provider of public utility services to almost a quarter of the UK’s total population.
OMERS became an investor in Thames Water less than two months ago, and following completion of the transaction announced today, will increase its overall interest to ~23%.
About OMERS Private Markets
OMERS Private Markets (Borealis Infrastructure and OMERS Private Equity) invests globally in infrastructure and private equity assets on behalf of OMERS, the pension plan for Ontario’s municipal employees. Investments are aimed at steady returns to help deliver strong and sustainable pensions to OMERS members. OMERS Private Markets’ diversified portfolio of large-scale infrastructure assets exhibits stability and strong cash flows, in sectors including energy, transportation and government-regulated services. OMERS Private Markets has offices in Toronto, New York, London and Sydney. OMERS is one of Canada’s largest pension funds with net assets of more than C$85 billion. Visit www.omersprivatemarkets.com for more information.
About AMP Capital
AMP Capital is a specialist investment manager with more than A$160 billion in funds under management as of 31 December 2016 and more than 250 investment professionals. AMP Capital is one of the most experienced global infrastructure managers with more than 25 years’ experience and having made over 120 infrastructure equity and debt investments globally. AMP Capital today manages unlisted and listed infrastructure investments in Asia, Europe, North America, Australia and New Zealand. AMP Capital is a subsidiary of AMP Limited. Established in 1849, AMP has more than 160 years of experience providing financial services, and is one of Australia’s largest retail and corporate pension providers.
For further enquiries
James Devas/Cebuan Bliss, Maitland
+44 (0)20 7379 5151
Neil Hrab Manager, Communications – Investments
Photo courtesy of Thames Water Utilities Ltd