CPP Investments is selling its interests in two Australia-based transport infrastructure assets to Transurban.

As part of the deal, CPP Investments will sell its 10 per cent interest in WestConnex and a 25 per cent stake in NorthWestern Roads Group for expected gross proceeds of roughly $4.5 billion.

“This transaction allows us to realize value from mature assets as we continue to focus on seeking investments that will help generate attractive long-term returns for CPP contributors and beneficiaries,” said James Bryce, managing director and head of infrastructure at CPP Investments, in a press release.

Read: CPP Investments acquiring European energy project, Ontario Teachers’ backing collateralized loan obligation platform

CPP Investments is also investing $441 million in Prestige Hospitality Ventures Ltd., a platform servicing the hospitality industry in the Asia-Pacific........

© Benefits Canada