Acquisition represents the first take-private transaction BCI has completed as the sole investor | BCI Infrastructure & Renewable Resources has committed more than C$3.5 billion for new investments in the first half of 2025
Victoria, British Columbia, Canada, June 23, 2025 (GLOBE NEWSWIRE) -- British Columbia Investment Management Corporation ("BCI"), one of Canada's largest institutional investors, today announced it has completed the £1.0 billion (C$1.9 billion) take-private acquisition of BBGI Global Infrastructure S.A. ("BBGI"). This acquisition marks the first take-private transaction BCI has completed as the sole investor.
BBGI is a Luxembourg-based global infrastructure investment company that provides responsible capital to build and maintain critical infrastructure-including hospitals, schools, affordable housing, bridges and roads-across seven countries. Partnering with the public sector, BBGI invests in infrastructure that strengthens local economies through a value-driven approach, combining active asset management with prudent financial oversight.
"BBGI is a highly complementary and strategic addition to our portfolio. Through this acquisition, BCI gains a specialized investment platform focused on high-quality, long-term contracted infrastructure projects. The portfolio also features several Canadian concessions-including transportation, healthcare, and energy infrastructure in British Columbia-that directly benefit many of our clients," said Lincoln Webb, Executive Vice President and Global Head of Infrastructure & Renewable Resources ("I&RR") at BCI. "With a longer-term investment horizon, reliable capital to support future expansion opportunities, and access to BCI's extensive infrastructure expertise, BBGI is well positioned for strong growth ahead."
Duncan Ball, CEO, BBGI commented: "We are proud of what BBGI has achieved as a listed company since our IPO in 2011, and are excited to begin the next chapter with BCI as our new owners. With BCI's long-term capital and strategic alignment, we look forward to building on our strong foundation of delivering essential infrastructure that creates long-term value for communities and stakeholders alike."
The acquisition of BBGI is now complete. The company's shares have ceased trading on the London Stock Exchange and BBGI is now a private company owned by BCI.
In the past six months, BCI I&RR has committed more than C$3.5 billion of capital for new investments, including the BBGI acquisition, a significant minority equity investment in Renewi, a significant minority investment in Frontier Towers (through Pinnacle Towers), and smaller investments across sustainable energy infrastructure.
Lincoln Webb added: "We are finding exceptional opportunities to invest in high-quality infrastructure and renewable resource assets at the moment, across many geographies and sectors, and at prices we believe do not reflect the full potential of the assets and their long-term values."
For more information about BBGI, visit: www.bb-gi.com.
About BBGI's Portfolio
BBGI's portfolio of concessions includes more than 50 transport and social infrastructure projects located in Canada, the U.S., the U.K., Germany, the Netherlands, Norway and Australia. BBGI manages the projects in its portfolio, collecting inflation-linked revenue through long-term agreements with government-backed entities.
BBGI's portfolio of projects includes:
- 19 transportation projects with more than 500 bridges and structures, over 23 kilometres of tunnels and nearly 2,800 single kilometres of roadway.
- More than 41 essential health care facilities, accommodating more than 2,400 patient beds.
- 14 education assets comprising 33 schools and colleges, providing an effective learning environment for over 36,000 students.
- Three affordable residential housing developments, comprising 100 housing units, and two community centres.
- Justice assets comprising four police stations and 26 fire stations.
About BCI
British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada, with C$250.4 billion in gross assets under management as of March 31, 2024. Based in Victoria, British Columbia, with offices in Vancouver, New York, and London, U.K., BCI manages a portfolio of diversified public and private market investments on behalf of its British Columbia pension fund and institutional clients.
BCI Infrastructure & Renewable Resources (I&RR) oversees a diversified portfolio of more than C$30 billion of tangible, real assets. Our global program invests primarily in core infrastructure assets that operate in stable regulatory environments and renewable resources assets that are critical to meeting the demands of a growing global population.
Olga Petrycki BCI - British Columbia Investment Management Corp +1 778 410 7100 media@bci.ca
