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The Alberta Investment Management Corporation is paying $875 million for a 50-percent stake in a Chilean toll road.
Autopista Central is a 61-kilometre, six-lane highway running through the centre of the Chilean capital of Santiago.
“Rapid economic growth in Latin America is creating a great need for infrastructure and we fully expect that going forward, patient and disciplined acquisitions will allow our infrastructure team to fill more of that need, " AIMco CEO Leo DeBever says in a statement.
AIMCo is one of Canada's largest investment management firms, managing total assets of $70 billion for several endowments and public-sector pension funds in Alberta.