Greystone Infrastructure Fund Acquires a Portfolio of Power Plants in Alberta
REGINA, September 5, 2018 – The Greystone Infrastructure Fund1 (the “Fund”) has acquired a 100% equity interest in a 66 MW portfolio of nine operating power plants located in Alberta from a private equity fund managed by Toronto-based Kensington Capital Advisors Inc.
The facilities produce electricity from waste-heat, waste-gas and sales gas produced by major oil and gas exploration and production (“E&P”) companies in the province. The E&P companies have entered into long-term contracts for the purchase of electricity from the facilities. This latest investment adds scale to our existing investment in western Canadian power generation, providing another platform for further growth for the Fund.
With the acquisition, the Fund has established a new energy infrastructure platform, WCSB Power Holdings LP (“WCSB Power”), focused on acquisition opportunities in Western Canada. WCSB Power will also hold the recently acquired Crowsnest Power Plant located in Sparwood, BC.
Ted Welter, Managing Director & Chief Investment Officer, Alternative Investments at Greystone Managed Investments Inc. said, “Over the past four years Greystone has been committed to building a well-diversified, global infrastructure portfolio for our clients. This investment highlights our continued ability to deliver for our clients through our valued people and disciplined processes across the organization.”
“This portfolio provides our clients with contracted, long-term income from power generation assets that add value to existing large-scale energy infrastructure,” said Jeff Mouland, Executive Director and Head of Infrastructure Investments. “Building on our success in managing platform investments, the creation of WCSB Power provides a platform in Western Canada for further acquisition opportunities in the sector and represents our strong conviction regarding future growth in the region.”
About the Greystone Infrastructure Fund
The Fund is open-ended with a global mandate that targets diversified mid-market infrastructure assets with attractive risk-adjusted returns, capable of providing predictable and stable cash flows over the long term. The Fund forms part of the Alternative Investments platform managed by Greystone Managed Investments Inc.
About Greystone Managed Investments Inc.
Founded in 1988, Greystone Managed Investments Inc. is a privately-owned, Canadian institutional investment manager. The firm is one of Canada’s largest money managers with C$36.1 billion of assets under management (as at June 30, 2018).
Greystone is a multi-asset class manager with in-house expertise in fixed income, Canadian equities, U.S. equities, international equities, real estate, mortgages and infrastructure. Greystone is headquartered in Regina, with offices in Toronto, Winnipeg and Hong Kong. For more information, please visit www.greystone.ca.
For further information, please contact:
Media Relations Contact:
Anne Bilczuk, Senior Vice-President, Branding & Communication, (306) 779-6153
1 The Greystone Infrastructure Fund (Canada) LP and the Greystone Infrastructure Fund (Canada) LP II (the “Feeder Funds”) invests in units of a master fund, the Greystone Infrastructure Fund (Global) LP (the “Master Fund”). The Master Fund invests in the allowable infrastructure investments outlined in its Investment Policy.