IFM Investors Fund to Acquire Majority Stake in Associated British Ports

Canada Pension Plan Investment Board (CPP Investments) and OMERS have agreed to sell their combined 63.9% stake in Associated British Ports (ABP) to a fund managed by IFM Investors, in a deal expected to close in the first half of 2027.

Under the agreement announced on October 21, CPP Investments will sell its entire 33.9% holding, while OMERS will dispose of its 30% stake in the UK ports operator.

IFM Investors is a global asset manager, founded and owned by Australian pension funds and the UK pension fund, Nest, with capabilities in infrastructure equity and debt, private equity, private credit, real estate and listed equities.

The transaction is subject to customary shareholder and regulatory approvals, as well as stakeholder review processes.

ABP operates 19 port facilities across the UK, handling approximately 25% of the country's seaborne trade. The company also provides port infrastructure supporting more than half of the UK's offshore wind industry.

The proposed acquisition would give the IFM-managed fund a majority stake in the ports group, whose infrastructure supports maritime trade, industrial operations and energy transition projects.

CPP Investments acquired its stake in ABP in 2015, while OMERS has held its investment since 2006.

During their ownership, ABP developed infrastructure projects including the Immingham Renewable Fuels Terminal, Green Port Hull and Southampton's Horizon cruise terminal.

The transaction comes as ABP continues to develop its port infrastructure and pursue opportunities linked to the UK's energy transition, including offshore wind.

Financial terms of the proposed sale were not disclosed.