CDPQ agreed to acquire Plenary Americas, the firms said on 11 March.
This investment allows CDPQ to acquire Plenary Americas operating business as well as its existing public-private partnership (P3) portfolio.
Plenary Americas has stakes in 36 North American and Canadian projects and is on teams shortlisted for ongoing procurements.
CDPQ is the lead equity provider for the Réseau express métropolitain (REM) in greater Montréal.
In addition to its investment, CDPQ maintains its close relationship and 20% ownership interest in Plenary Asia Pacific.
“Plenary Americas is recognized for its highly skilled project development team and solid operational expertise. It is well-positioned to act on growth opportunities, notably in the United States, where infrastructure needs are rising and long-term investors, such as CDPQ, can play a role in bridging the funding gap,” said Emmanuel Jaclot, executive VP and head of infrastructure at CDPQ. “For CDPQ, it is an opportunity to strengthen our presence in social infrastructure and create a powerful platform to develop assets that are at the heart of communities.”
The price of the deal was not disclosed.