Blackstone and four Canadian pension investors buy into an LNG Canada partner

Value of the deal

3.1 billion US$

An investor group led by Blackstone signed a US$3.1-billion deal for 49.9 per cent of the Mitsubishi Corp. subsidiary that holds Mitsubishi's 15 per cent of LNG Canada.

And us?

Canadian investors in the group

• Canada Pension Plan Investment Board
• Ontario Municipal Employees Retirement System
• Investment Management Corp. of Ontario
• Public Sector Pension Investment Board

The group includes four Canadian pension investors, among them the Canada Pension Plan Investment Board.

In September, LNG Canada approved a second phase at its export terminal in Kitimat, British Columbia, which will double its capacity to 28 million tonnes a year.

CPP Investments called LNG Canada a high-quality, globally strategic asset, while the environmental group Stand.earth said it is still not a risk-free investment for workers' pensions.