AIMCo Acquires AusNet with Consortium
Edmonton, Alberta – Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, is pleased to announce the closing of the acquisition of AusNet Services limited (“AusNet”) alongside Brookfield Asset Management, Inc., Healthcare of Ontario Pension Plan (HOOPP), Investment Management Corporation of Ontario (IMCO), Sunsuper Superannuation Fund (Sunsuper) and Canada’s Public Sector Pension Investment Board (PSP Investments), (together, “the Consortium”).
AusNet is a large, diversified energy network business in Australia. It owns and operates over A$11 billion of regulated and contracted assets, three core regulated networks, as well as a significant portfolio of contracted energy infrastructure assets. AusNet services over 1.5 million customers across the state of Victoria. By enabling renewable generation during the transition towards greater decarbonization, AusNet is helping to support Victoria to achieve the state’s long-term target of net-zero greenhouse gas emissions by 2050.
“After the robust returns that AIMCo’s infrastructure investments have brought our clients over the past year, the acquisition of AusNet on behalf of our clients is another exciting addition to our clients’ infrastructure portfolios,” said Ben Hawkins, Senior Vice President, Infrastructure & Renewable Resources.
“AusNet is widely recognized as an energy transition leader in Australia which means that this regulated infrastructure investment will provide our clients’ portfolios with a strong foundation to participate in Victoria’s clean energy future while providing stable regulated returns and inflation protection that matches the needs of our clients.”
About Alberta Investment Management Corporation
AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than $150 billion of assets under management. AIMCo invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta.