July 14, 2017 / 2:20 PM / 7 days ago

Canadian owners of Britain's High Speed 1 rail sell out

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LONDON, July 14 (Reuters) - Two leading Canadian pension fund investors have agreed to sell their stakes in a Britain's High Speed 1 rail project to a consortium of funds advised and managed by InfraRed Capital Partners and Equitix Investment Management.

InfraRed is advising third party funds including HICL Infrastructure and the National Pension Service of the Republic of Korea, which will take a 35 percent and 30 percent share in the asset. Equitix funds will take the remaining 35 percent.

The deal was struck with Borealis Infrastructure, the infrastructure investment manager of OMERS, the pension plan for Ontario's municipal employees, and Ontario Teachers' Pension Plan, which has held its stake since 2010.

HS1 operates the 109km high-speed rail line connecting London St Pancras International station with the Channel Tunnel, under a 30-year concession agreement with the U.K. Secretary of State, signed in 2010. (Reporting by Simon Jessop; Editing by Dasha Afanasieva)

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