Fund controlled by Australia’s IFM Investors buys controlling stake in UK’s AB Ports

Canada Pension Plan Investment Board (CPP Investments) and OMERS have agreed to terms with a fund managed by IFM Investors to sell each of their respective 33.9% and 30.0% stakes in Associated British Ports (ABP). CPP Investments and OMERS initially acquired their stakes in 2015 and 2006 respectively. Completion of the transaction is subject to stakeholder review and approval processes. Financial terms are not disclosed.

ABP is the largest ports group in the UK, operating 19 facilities handling approximately 25% of UK seaborne trade..

Kyle Mangini, Global Head of Infrastructure, IFM Investors, said: “We are pleased to have reached an agreement where a fund managed by IFM would acquire a majority stake in ABP, the UK’s largest ports group with strategically located assets serving some of the country’s most important trade and industrial regions. We look forward to supporting continued development of ABP’s infrastructure and operations, drawing on IFM’s long-term investment approach and experience across ports and other essential infrastructure assets.

“As an investor owned by Australian and UK pension funds, this transaction reflects our longstanding commitment to mobilising pension capital into UK infrastructure. We are excited to work closely with ABP’s management team, employees and our fellow shareholders to support the company’s continued success.”

Luca Lupo, Senior Managing Director and Head of Europe, OMERS Infrastructure, said: “We are proud to have supported ABP over the past 20 years, working alongside fellow shareholders and management to grow and strengthen one of the UK’s critical infrastructure businesses. During our ownership and with our support, ABP has continued to invest in its ports, support UK trade and develop new opportunities linked to the energy transition, including through major projects such the Immingham Renewable Fuels Terminal, Green Port Hull and Southampton's Horizon cruise terminal. I would like to thank the management team, employees and fellow shareholders for their contributions and wish them continued success.”

The transaction is subject to customary shareholder and regulatory approvals and is expected to complete in H1 2027.