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Blue Sky terminates deal with Canadian pension fund
Blue Sky Alternative Investments has announced a termination of its strategic agreement with Canada’s Public Sector Pension Investment Board (PSP Investments), effective March 31.
According to the statement issues top the Australian securities Exchange (ASX), the Canadian partner decided to transfer the management of its agricultural investments, which was previously conducted by Blue Sky Water Partners, to its local operating partners.
Blue sky Water Partners declared an intention to continue to manage water and agriculture assets including its Water Fund and Strategic Australian Agriculture Fund which was closed as of 31 December, 2018.
The termination of the strategic agreement would see the firm’s real assets division to have over $900 million in assets under management across water entitlements and agricultural assets.
The impact of the termination of the deal was expected to trigger realisation of associated BLA co-investment and was not considered material to Blue Sky’s earnings, the firm said.
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