CC&L Infrastructure and Desjardins acquire majority interest in South Fraser Perimeter Road

On December 12, 2016, Connor, Clark & Lunn Infrastructure ("CC&L Infrastructure") and Régime de rentes du Mouvement Desjardins ("Desjardins") announced the acquisition of a majority interest in South Fraser Perimeter Road from ACS Infrastructure Canada Inc. ("ACS"), the Star America Infrastructure Fund, and Ledcor Infrastructure Investments Inc. ("Ledcor"). ACS will retain a minority equity interest in South Fraser Perimeter Road and an ACS-led O&M company established by ACS and Ledcor will act as the operation & maintenance provider for the project going forward.

The South Fraser Perimeter Road, also known as the mainland portion of Highway 17, is a 40 km four-lane expressway linking Highway 17 in Delta, British Columbia, along the south side of the Fraser River, to Highway 15 in Surrey and to the Golden Ears Bridge. The project, completed in December 2013 after a 4-year construction period at a capital cost of C$658 million, is a public-private partnership between the Fraser Transportation Group consortium and the Province of British Columbia.

Connor, Clark & Lunn Infrastructure invests in middle-market infrastructure and infrastructure-like assets with attractive risk-return characteristics, long lives and the potential to generate stable cash flows.

Régime de rentes du Mouvement Desjardins provides a defined benefit pension plan to more than 50,000 beneficiaries. With C$11.2 billion in net assets under management, it ranks among the top 10 private pension plans in Canada.

Further information can be found on Canada Newswire's website.