PSP Investments to Acquire 50% Stake in Enercare for $1.6 Billion
PSP Investments has signed an agreement to acquire a 50% interest in Enercare Inc. from Brookfield and its institutional partners for approximately $1.6 billion. Enercare is a major Canadian home infrastructure provider serving over 1.4 million homes and businesses with HVAC, water heating, and purification services. The transaction strengthens PSP Investments' Canadian portfolio, which currently exceeds $75 billion in assets under management. This investment aligns with PSP's strategy to expand its High Inflation Correlated Infrastructure (HICI) portfolio by targeting essential service providers with recurring revenue models. Enercare will maintain its current leadership team under President and CEO Nick Perreten. The deal is expected to close in the first half of 2027, subject to customary regulatory approvals.
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Topics: Acquisition Asset Management Infrastructure Investment