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IFM fund agrees to acquire control of Associated British Ports

An IFM Investors-managed fund agreed to buy a combined 63.9 percent stake in Associated British Ports from CPP Investments and OMERS. The operator handles around a quarter of UK seaborne trade. Completion is expected in the first half of 2027, subject to approvals including national security review; the parties did not disclose financial terms.

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White wind-turbine blades on quay-side cradles beside a moored cargo ship, cranes and a British flag.

Two pension investors agree to sell

An IFM Investors-managed fund agreed to acquire 63.9 percent of Associated British Ports on October 21. CPP Investments will sell its 33.9 percent stake and OMERS its 30 percent holding. Both sellers are exiting their entire stakes, giving the purchasing fund a majority if the transaction completes.[1], [2]

Financial terms were not disclosed. Completion is expected in the first half of 2027 and remains subject to customary shareholder and regulatory approvals, including a national security review. OMERS has held its investment since 2006 and CPP Investments since 2015; the agreement would end those holdings.[1]

The operator runs 19 UK ports

Associated British Ports operates 19 UK port facilities, including Southampton, Immingham and Hull. It handles about 25 percent of the country’s seaborne trade and supports more than half of its offshore wind capacity. These existing activities place cargo handling and offshore energy infrastructure within the company whose ownership would change.[1]

IFM points to continued port investment

IFM is owned by Australian pension funds and the UK’s Nest pension scheme and manages around 157 billion pounds globally. Infrastructure executive Kyle Mangini said the investment would support further development of the ports. Recent ABP projects include the Immingham Renewable Fuels Terminal, Green Port Hull and Southampton’s Horizon cruise terminal. The sellers intend to redeploy the proceeds into new opportunities.[1]

References

  1. News sourcegCaptainIFM agrees to acquire control of Associated British Ports↩1↩2↩3↩4
  2. News sourceIFM InvestorsCPP Investments and OMERS Reach Agreement to Sell Entire Stakes in Associated British Ports to a Fund Managed by IFM Investors↩
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