Stake Purchase • Utilities

OMERS Infrastructure Invests In Puget Energy

On August 8, 2018, infrastructure investor OMERS Infrastructure invested in utilities company Puget Energy

Investment Context
  • This is OMERS Infrastructure’s 9th transaction in the Utilities sector.
  • This is OMERS Infrastructure’s 10th transaction in the United States.
  • This is OMERS Infrastructure’s 2nd transaction in Washington.

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Investment Summary

Date August 8, 2018
Target Puget Energy
Sector Utilities
Investor(s) OMERS Infrastructure
Deal Type Stake Purchase

Target Company

Puget Energy

Bellevue, Washington, United States
Puget Energy is a provider of regulated utility that is oldest local energy company, providing electric and natural gas service to homes and businesses primarily in the vibrant Puget Sound area. More than one million customers rely on PSE for electricity, while more than 800,000 count on PSE for natural gas. Puget Energy was founded in 1912 and is based in Bellevue, Washington.
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Investor Overview 1

Investor

OMERS Infrastructure

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 1990
PE ASSETS 36.0B CAD
Size Mega
Type Sector Focused
DESCRIPTION

OMERS Infrastructure is the infrastructure investment arm of Canadian pension plan OMERS. OMERS targets 'large-scale' infrastructure investments valued in excess of $1 billion where the firm can commit at least $200 million of equity capital. Prospective opportunities generally possess significant governmental or regulatory barriers to entry, as well as stable cash-flows linked to long-term contracts. Specific areas of interest include energy (generation, transmission and distribution networks), transportation (transportation gateways, rail corridors, ports and airports), institutional facilities (hospitals, long-term care facilities and schools), and government-regulated services (laboratory diagnostic services, satellite and other communications networks and land registry services). OMERS was formed in 1990 and is based in Toronto.


Deal Context for Investor #
Overall 38 of 54
Sector: Utilities 9 of 9
Type: Stake Purchase 6 of 10
State: Washington 2 of 2
Country: United States 10 of 13
Year: 2018 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-08 Puget Sound Energy

Bellevue, Washington, United States

Puget Sound Energy provides electrical power and natural gas primarily in the Puget Sound region of the northwest United States. Puget Sound Energy was founded in 1873 and is based in Bellevue, Washington.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-21 BridgeTex Pipeline

Tulsa, Oklahoma, United States

BridgeTex Pipeline is a provider of critical market access to growing crude oil production in the Permian Basin in West Texas, with approximately 440,000 barrels per day of capacity delivered into the Gulf Coast refining and export markets via Houston, Texas. BridgeTex Pipeline was founded in 2012 and is based in Tulsa, Oklahoma.

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