Announced
Financials
Sources
Tags
Renewable Energy Equipment
Acquisition
Cross Border
Private Equity
Single Bidder
Spain
Majority
energy infrastructure
Pending
Friendly
Portugal
Private
Synopsis
Universities Superannuation Scheme, the largest private pension fund in the United Kingdom by assets, agreed to acquire a 50% stake in Bruc Energy, a Spain and Portugal renewables-focussed investment vehicle created by Canadian pension fund OPTrust and the Spanish businessman, Juan Béjar, for £200m ($282m). "We have worked alongside OPTrust and Juan Béjar for many years and are delighted to be making this investment. The long-term nature of solar and the steady returns make renewables attractive to a pension scheme needing to pay pensions for years to come," Gavin Merchant, USS Co-Head of Direct Equity.
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