Canada Pension Plan Investment Board and OMERS today announced they have agreed to terms with a fund managed by IFM Investors to sell each of their respective 33.9% and 30.0% stakes in Associated British Ports. CPP Investments and OMERS initially acquired their stakes in 2015 and 2006 respectively. Completion of the transaction is subject to stakeholder review and approval processes. Financial terms are not disclosed, but the FT has suggested that the sale values the whole group at £10bn
Kyle Mangini, Global Head of Infrastructure, IFM Investors, said:
“We are pleased to have reached an agreement where a fund managed by IFM would acquire a majority stake in ABP, the UK’s largest ports group1 with strategically located assets serving some of the country’s most important trade and industrial regions. We look forward to supporting continued development of ABP’s infrastructure and operations, drawing on IFM’s long-term investment approach and experience across ports and other essential infrastructure assets. As an investor owned by Australian and UK pension funds, this transaction reflects our longstanding commitment to mobilising pension capital into UK infrastructure. We are excited to work closely with ABP’s management team, employees and our fellow shareholders to support the company’s continued success.”
James Bryce, Managing Director, Head of Infrastructure, CPP Investments, said:
“We are proud to have supported ABP for over a decade, during which time it has continued to operate and develop the critical infrastructure that underpins trade across the UK. I would like to take this opportunity to express my thanks to the management team, employees across the country, the Board and fellow investors for their hard work and partnership throughout our period of ownership. ABP is a high-quality business which has an extremely important role to play supporting the UK economy in the years ahead and we are confident it will continue to thrive under new ownership. This transaction represents an attractive opportunity to realize the value of our long-term investment and recycle capital into new opportunities, helping us deliver strong long-term returns for CPP contributors and beneficiaries.”
Luca Lupo, Senior Managing Director and Head of Europe, OMERS Infrastructure, said:
“We are proud to have supported ABP over the past 20 years, working alongside fellow shareholders and management to grow and strengthen one of the UK’s critical infrastructure businesses. During our ownership and with our support, ABP has continued to invest in its ports, support UK trade and develop new opportunities linked to the energy transition, including through major projects such the Immingham Renewable Fuels Terminal, Green Port Hull and Southampton’s Horizon cruise terminal. I would like to thank the management team, employees and fellow shareholders for their contributions and wish them continued success. The UK remains a priority market for OMERS Infrastructure, and we are actively exploring new opportunities to invest in high-quality infrastructure businesses across the country.”
Henrik L. Pedersen, CEO of Associated British Ports, said:
“Today marks a bold new chapter for ABP. Since my arrival at ABP eight years ago, I have experienced firsthand the support for our business and the execution of growth opportunities provided by CPP Investments and OMERS. On behalf of the entire company, I would like to extend my profound appreciation for their partnership. Attracting investment from a fund managed by IFM Investors is a powerful endorsement of our business, our people and our strategy. We are excited to unlock further growth opportunities, together with IFM Investors and our other shareholders, continuing ABP’s long-term investment benefitting our customers, our local communities, and the UK.”
The transaction is subject to customary shareholder and regulatory approvals and is expected to complete in H1 2027.
Singapore sovereign wealth fund GIC and Kuwait’s Wren House Infrastructure remain among the group’s minority investors.
IFM is owned by Australian and British pension funds and manages around $96bn in infrastructure assets globally.
Separately, ABP has appointed Sandrine Lagrost as its new Head of Commercial for the Humber, joining the business on 2 November 2026.
Sandrine joins ABP from UPS, where she serves as Sales Director for the UK, Ireland and Nordics and is a member of the Executive Committee. She brings extensive experience in blue chip commercial leadership, supporting customer growth and international trade and supply chains. As a business leader Sabrine brings a strong track record of delivering business growth and organisational transformation.
Sandrine’s appointment comes at an exciting time for ABP’s four ports on the Humber as the company continues to develop its infrastructure and capability offer for customers, strengthening the region’s position as the UK’s #1 trading gateway for the UK by volume.
Working closely with colleagues across the business Sandrine will play a key leadership role in further establishing ABP’s Humber ports as the ports of choice for customers across the North of England and beyond, giving them more options and resilience as they trade with Europe. Her appointment is the latest and most senior of a number of recent hires into the ABP Humber team.
Sandrine Lagrost, incoming Head of Commercial for ABP Humber, said:
“I am delighted to be joining ABP and to have the opportunity to work in the Humber, one of the UK’s most strategically important trading gateways. The Humber plays a vital role in supporting UK economic growth, connecting businesses to global markets and enabling the movement of critical goods and materials.
“ABP already has a strong reputation for investment and sustainable growth and I’m excited to take that to new levels. I can’t wait to get started, meet our customers and colleagues, and help build on the Humber’s success in the years ahead to ensure it is the #1 port of choice for existing and prospective customers.”
Andrew Dawes, Regional Director for the Humber at ABP, said:
“We are delighted to welcome Sandrine to ABP. She brings a wealth of commercial experience from an internationally leading business, together with deep expertise in customer development, trade and global supply chains.”
“Sandrine has a strong track record of delivering business growth, leading high-performing teams and driving transformation. These qualities will be invaluable as we continue to develop the Humber’s offer for customers and reinforce its position as the UK’s number one gateway for trade.”
“I would also like to thank Paul Litten for his major contribution to the Humber business in the Head of Commercial role. His leadership, passion and commitment have helped shape our commercial success, and we are pleased that he will continue to support the business.”
In her new role Sandrine will lead ABP’s commercial activities across the Humber ports, working with customers and stakeholders to support business and regional economic growth.
Paul Litten will remain with ABP, supporting a smooth transition and continuing to contribute to a number of strategic commercial initiatives across the business.