Canadian pension funds eye £10 billion exit from ABP

February 10, 2026

Two major Canadian pension investors are preparing a potential exit from Associated British Ports (ABP), a move that could value the UK’s largest ports operator at more than £10 billion ($13.6 billion), according to reporting by the Financial Times.

The Canada Pension Plan Investment Board (CPPIB) and the Ontario Municipal Employees Retirement System (Omers), which together control around two-thirds of ABP, have appointed advisers at Morgan Stanley to examine a possible sale of their respective holdings.

People familiar with the discussions said a transaction could take place in the second half of the year, although the process is still at an early stage.

CPPIB owns 34 per cent of ABP, while Omers holds 33 per cent. Sources cited by the Financial Times also indicated that Hermes, which has a stake of roughly 6 per cent, may consider selling its shares as part of the same process.

ABP operates 21 ports across the UK, including major hubs such as Southampton and ports in the Humber, and is responsible for handling around a quarter of Britain’s seaborne trade.

The group was taken private in 2006 in a £2.8 billion ($3.8 billion) deal led by a consortium that included Goldman Sachs’ infrastructure arm and Omers. Since then, its shareholder base has evolved, with CPPIB acquiring its interest in 2015.

Other significant investors include Singapore’s sovereign wealth fund GIC, which owns 20 per cent, and Wren House Infrastructure, an investment vehicle of the Kuwait Investment Authority, holding 10 per cent.

The prospective sale underlines the continued appetite among private capital and infrastructure investors for long-term assets that offer relatively predictable returns.

However, the scale of ABP means the pool of potential buyers is expected to be limited to the largest global infrastructure funds, the Financial Times reported.

READ: ABP marks steel milestone at HELM Immingham site

Beyond port operations, ABP has developed a substantial industrial and logistics property portfolio and has been increasing its involvement in the renewable energy supply chain, particularly supporting the offshore wind sector.

The company has also secured approval for a new freight and ferry terminal at Immingham in north-east England.

CPPIB manages C$777.5 billion ($573.2 billion) in assets and has maintained a London presence since 2008, with UK investments that include a stake in Unite Students.

Omers, which oversees C$141 billion ($104 billion), previously held a leading position in Thames Water, but wrote down its investment in 2024 amid financial stress at the utility caused by higher interest rates, regulatory pressures and infrastructure issues.

Late last year, ABP started construction works on the first phase of its major Humber development at its Helm @ Immingham site, the most significant development of its kind in the region for decades.