Borealis Infrastructure Management Inc., one of Canada’s biggest infrastructure investors, and Caisse de Depot et Placement du Quebec are among bidders picked to make final-round offers for a stake in the Port of Brisbane lease, said three people with knowledge of the matter.
Global Infrastructure Partners agreed to sell its stake in the Port of Brisbane to Caisse de Depot et Placement du Quebec for more than A$1 billion ($908 million), according to two people with knowledge of the matter.
Caisse de Depot et Placement du Quebec, Canada’s second-largest pension-fund manager by assets, returned 13 percent last year as publicly traded stocks in the U.S. and elsewhere pushed assets under management above C$200 billion ($180.1 billion) for the first time.
Corporate bond premiums in Australia fell to a six-year low and investors including Western Asset Management Co. predict more narrowing as a global economic recovery withstands bouts of market turmoil.
Heavy rain and flooding in Queensland have caused “substantial damage” to a rail line that serves Peabody Energy Corp. and New Hope Corp. coal mines and carries passengers and grain, the state government said.