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.
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.
The A$2 billion sale of the Port of Brisbane in Australia’s Queensland state has been delayed for more than a month, the Australian Financial Review reported in its Street Talk column, without saying where it got the information. Final bids, originally set for the second half of September, are now being called for by the end of October, the newspaper said.
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.
Australia’s Queensland state government may not achieve a targeted sale price of more than A$2 billion for the Port of Brisbane as buyers argue for a lower valuation, the Australian Financial Review reported in its Street Talk column, without citing anyone. Potential buyers may include India’s Essar Group and Vedanta Resources Ltd. as well as a group including Global Infrastructure Partners Ltd., Queensland Investment Corp. and Macquarie Group Ltd, the newspaper said. Morgan Stanley and UniSuper Infrastructure Partners Ltd. may also lodge a bid by the deadline, according to the report.
Global Infrastructure Partners, Morgan Stanley Infrastructure Partners and HRL Morrison and Infratil are leading three groups that are among the first-round bidders for Australia’s Port of Brisbane, the Australian Financial Review reported in its Street Talk column. Sovereign wealth funds from Singapore and Malaysia are also bidding for the A$2.5 billion asset, according to the report. All five offers are believed to be fully funded, the newspaper said.