IFM Investors agrees to take control of Associated British Ports
CPP Investments and OMERS sell their combined 63.9% of Britain's largest port group; completion expected in the first half of 2027
Canada's CPP Investments and OMERS have agreed to sell their entire stakes in Associated British Ports (ABP) to a fund managed by the Australian infrastructure investor IFM Investors, handing control of Britain's largest port group by tonnage to a new majority owner. CPP Investments holds 33.9% and OMERS 30.0%. The buyer is Global Infraco Haven Bidco, an indirect subsidiary of the IFM Global Infrastructure Fund, and ABP confirmed the binding agreement in a London Stock Exchange announcement on 21 October.
Financial terms were not disclosed, but the deal is reported to value ABP at more than £10 billion. KKR, Apollo and Gautam Adani were among the other bidders. Completion is subject to shareholder and regulatory approvals and the UK's mandatory national security filings, and is expected in the first half of 2027. Singapore's GIC and Kuwait's Wren House Infrastructure remain minority shareholders.
What does ABP own?
ABP runs 19 port facilities, among them Southampton, Immingham and Hull on the Humber. It handles about a quarter of the UK's seaborne trade across containers, vehicles, bulk, cruise and offshore energy, and supports more than half of the country's offshore wind capacity. Current projects include the Immingham Renewable Fuels Terminal, Green Port Hull, the Horizon cruise terminal at Southampton and a £500 million development at Port Talbot in Wales for a floating offshore wind manufacturing and assembly hub.
The sale ends two decades of Canadian involvement. OMERS was part of the consortium that took ABP private in 2006 for £2.8 billion, and CPP Investments bought in during 2015.
Who is IFM?
IFM was founded by and is owned by Australian pension funds and the UK pension scheme Nest, and manages about £157 billion across more than 900 institutional investors. "We look forward to supporting continued development of ABP's infrastructure and operations," said Kyle Mangini, its global head of infrastructure.
James Bryce, head of infrastructure at CPP Investments, said the transaction "represents an attractive opportunity to realize the value of our long-term investment". Luca Lupo, head of Europe at OMERS Infrastructure, said: "We are proud to have supported ABP over the past 20 years." ABP chief executive Henrik L. Pedersen called the deal "a powerful endorsement of our business, our people and our strategy".
This story is part of the Maritime Briefing of 21 October 2026.
