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Canada's Alberta Investment Management Corporation (AIMCo) will invest up to 400mn reais (US$106mn) in the Brazilian water and sanitation company Iguá Saneamento, formerly known as CAB Ambiental.
The investment will be made through the fund called PIP6 Agua LP.
Alberta is likely to assume a minority stake of Iguá Saneamento and the proceeds will be used to invest in existing concessions and potential future public-private partnerships (PPPs), a person close to the transaction who declined to be named, told BNamericas.
The exact stake Alberta seeks to buy in the Brazilian company was not disclosed.
Formerly owned by Galvão Participaçãoes and BNDESPar, Igua was recently acquired by investment fund FIP Igua, which in turn is owned by private equity firm IG4 Capital. Currently, IG4 Capital holds 84.2% in the company and the rest is held by BNDESPar.
Igua serves 6.6mn people in 18 municipalities in the states of São Paulo, Mato Grosso, Paraná, Santa Catarina and Alagoas.