December 05, 2016
Ontario Teachers' Pension Plan (Ontario Teachers'), has completed the acquisition of an additional 29% stake in Australia's Metronode from CIMIC Group Limited , giving the plan full ownership of the market leading data centre provider.
Metronode has operational facilities throughout Australia and expertise in next-generation data centre design and construction. Ontario Teachers' previously held a 70% stake in Metronode as part of its 2013 acquisition of a majority interest in its parent company, Nextgen Group Holdings.
"Metronode is a highly desirable asset and we are extremely pleased to take on this increased ownership within a sector that is poised for steady, continued growth," said Jane Rowe, Ontario Teachers' Senior Vice-President, Private Capital. "We look forward to supporting Metronode's management on their continued growth within the business."
About Ontario Teachers'
The Ontario Teachers' Pension Plan (Ontario Teachers') is Canada's largest single-profession pension plan, with $171.4 billion in net assets at December 31, 2015. It holds a diverse global portfolio of assets, 80% of which is managed in-house, and has earned an annualized rate of return of 10.3% since the plan's founding in 1990. Ontario Teachers' is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario's 316,000 active members and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.