Australia’s IFM Investors Acquires 37.5% in Ontario Teachers’-owned GCT Global

Australia's IFM Investors (IFM) and Canada's British Columbia Investment Management Corporation (BCI) have acquired stakes in GCT Global Container Terminals Inc. (GCT), which is part of the portfolio of Canada's Ontario Teachers' Pension Plan. Following the transaction, IFM will own 37.5 per cent in the container terminal operator while BCI will acquire a 25 per cent interest. Ontario Trust will continue to hold 37.5 per cent stake in GCT. Vancouver-headquartered GCT has four marine container terminals on the Canadian West Coast and the U.S. East Coast. The transaction is subject to customary and required regulatory approvals and consents. IFM Investors has C$81 billion under its management and is owned by 27 Australian pension funds. With C$135.5 billion of managed net assets, BCI is one of Canada's largest institutional investors within the global capital markets.

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