Investment Summary

Ontario Teachers Pension Plan and Macquarie Capital Invest In Puget Holdings

On February 22, 2022, pension Ontario Teachers Pension Plan and private equity firm Macquarie Capital invested in utilities company Puget Holdings

Investment Highlights
  • This is Ontario Teachers Pension Plan’s 7th and Macquarie Capital’s 1st transaction in the Utilities sector.
  • This is Ontario Teachers Pension Plan’s 69th and Macquarie Capital’s 9th transaction in the United States.
  • This is Ontario Teachers Pension Plan’s 5th and Macquarie Capital’s 2nd transaction in New York.

Investment Summary

Date 2022-02-22
Target Puget Holdings
Sector Utilities
Investor(s) Ontario Teachers Pension Plan
Macquarie Capital
Deal Type Stake Purchase

Target

Puget Holdings

New York, New York, United States
Puget Holdings operates as a holding company. Puget’s primary operating subsidiary, Puget Sound Energy, is the oldest and largest electric and natural gas utility in the state of Washington, serving approximately 1.2 million electric customers and 900,000 natural gas customers in the Puget Sound region. Puget Holdings is based in New York.

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Investor(S) 2

Investor

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.


DEAL STATS #
Overall 166 of 175
Sector (Utilities) 7 of 7
Type (Stake Purchase) 16 of 18
State (New York) 5 of 5
Country (United States) 69 of 72
Year (2022) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 Orgain

Irvine, California, United States

Orgain is a producer of high-quality, great-tasting, organic and clean nutrition products. The company's products include meal replacement shakes, protein powders and snack bars for adults and kids. It uses only the highest quality ingredients, never at the cost of taste and texture. Orgain was founded in 2008 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-10 Lendable

London, United Kingdom

Lendable is an AI-powered consumer finance platform with a mission to make consumer finance more transparent, fair and efficient. Lendable is based in London, United Kingdom.

Buy -
DESCRIPTION

Macquarie Capital is the principal investing arm of financial services company Macquarie Group. Macquarie Capital has global capability in advisory, capital raising services, and provides clients with specialist expertise, advice and flexible capital solutions across a range of sectors and products including investing alongside partners and clients. Macquarie Capital is based in Sydney, Australia.


DEAL STATS #
Overall 24 of 29
Sector (Utilities) 1 of 1
Type (Stake Purchase) 3 of 3
State (New York) 2 of 2
Country (United States) 9 of 11
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 AirMap

Santa Monica, California, United States

AirMap is an airspace management platform for drones. Industry developers, drone operators, and airspace managers rely on AirMap’s airspace intelligence and services to fly safely and communicate in low-altitude airspace. AirMap unlocks safe, efficient, and scalable operations by connecting the world’s drones to airspace authorities through an open platform of APIs and SDKs, with integrations by top drone manufacturers and solution providers in over 25 countries. AirMap is a leader in delivering technology solutions for UAS Traffic Management (UTM) and U-space to enable safe and responsible drone operations at scale. AirMap was founded in 2014 and is based in Santa Monica, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-03 Roadchef

Cannock, United Kingdom

RoadChef is a roadside service area businesses operates motorway service areas in Britain. It operates catering and retail brand outlets, and restaurants, which provide meals, sandwiches, muffins, pastries, breakfasts, portions of fish and chips, and coffees. Roadchef was founded in 1973 and is based in Cannock, United Kingdom.

Buy -