A group including the Abu Dhabi Investment Authority (ADIA) and the Ontario Municipal Employee Retirement System (OMERS) is investing in a German motorway services company.
Allianz Capital Partners and Munich Re鈥檚 MEAG joined the consortium, which is buying Tank & Rast from Terra Firma Capital Partners and a fund managed by Deutsche Asset and Wealth Management.
OMERS鈥檚 is investing through its Borealis Infrastructure Management platform, ADIA through its wholly owned Infinity Investments.
Michael Rolland, CIO at OMERS Private Markets, said Germany鈥檚 stable concession framework and strong economy made it an 鈥渋deal鈥� destination to invest.
鈥淭ank & Rast provides a strong match for OMERS鈥檚 long-term obligations to its plan members and represents the kind of rare, high-quality business that fits with OMERS鈥檚 strategy to increase its exposure to infrastructure,鈥� he said.
Tank & Rast owns 390 service areas, 350 petrol stations and 50 German highway hotels.
Christian Fingerle, CIO responsible for infrastructure investments at Allianz Capital Partners, said: 鈥淭he acquisition is an important step in our ambition to substantially grow our portfolio of high-quality infrastructure companies and to diversify across sectors and countries.鈥�
The deal, for an undisclosed amount, is due to close later this year.
