Arcus European Infrastructure Fund (Arcus) has agreed to divest its share in Forth Ports to Public Sector Pension Investment Board (PSP Investments) for an undisclosed sum.
Following the completion of the deal, PSP Investments, which already has shares in Forth Ports, is expected to work with other long-term investors to support the future growth of Forth Ports.
Forth Ports is a dynamic, UK-based multimodal ports owner and operator, with ports serving as logistical gateways across the UK, connecting the UK with Europe and the rest of the world.
Forth Ports, which is based in the UK, currently owns and operates eight commercial ports across the country, including Firth of Forth, Tilbury (London), Grangemouth, Dundee, Rosyth and Leith (Edinburgh), and others.
The port of Tilbury is expected to receive a new terminal, Tilbury 2, while the Port of Dundee primarily serves the offshore wind sector, as well as the North Sea oil and gas decommissioning industry.
PSP Investments Infrastructure Investments head and managing director Patrick Samson said: “Since PSP’s original investment seven years ago, Forth Ports’ world-class management team has led the company through consistent high performance and growth.
“We are now entering the next phase of our journey together, which includes a specific plan to enhance our asset management responsibilities.
“This plan is being headed by our London-based team under the leadership of Patrick Charbonneau, Managing Director, Infrastructure Investments (Europe).”
PSP Investments is headquartered in Canada and involved in the management of a diversified global portfolio of investments in public financial markets, private equity, real estate, and infrastructure.