BCI

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BCI
Pension Fund
ISIN🆔
IndustryInvestment management
Founded 📆1999 (1999)
Founder 👔
Headquarters 🏙️Global,
Area served 🗺️
Key people
Peter Milburn (Chairman)
Gordon J. Fyfe CEO)[1]:p.4
Net income
Increase $14 Billion (June 2018)
💎 AUMIncrease $145 Billion (June 2018)[2]
Members
Number of employees
🌐 Websitebci.ca
📇 Address
📞 telephone

BCI, officially the British Columbia Investment Management Corporation, is a Canadian Crown corporation established in 1999, to oversee and invest British Columbia's provincial wealth funds. As of June 30, 2018, BCI manages over C$145 billion in investment assets.[3][4] Headquartered in Victoria, BC, BCIMC is one of the world's biggest investment funds, operating out of 23 offices across 17 countries.[5]

Investment Groups[edit]

BCI has four major investment divisions:[6]

  • Capital Markets, which focusses on equities, fixed income and all weather strategies
  • Private Equity which focusses on making private market investments in technology, industrials, consumer and healthcare sector companies primarily in North America and Europe
  • Infrastructure & Renewable Resources which focusses on opportunistic investments in infrastructure and renewable energy companies
  • QuadReal Property Group is BCI's real estate investment vehicle, making core+, opportunistic and debt investments in real estate assets globally

Major Investments[edit]

Verifone[edit]

California based electronic payments technology company, Verifone was acquired in a take-private buyout by BCI and Francisco Partners for $3.4 Billion in 2018

GCT Global Container Terminals[edit]

BCI and IFM Investors announced in 2018 their intention to acquire GCG Global Terminals Inc. from OTPP in a transaction believed to be worth $4 Billion

Springs Window Fashions[edit]

BCI and AEA Investors acquired Springs Window Fashions, the 3rd largest window covering company in the world from Golden Gate Capital for an undisclosed sum

Hayfin Capital Management LLP[edit]

BCI acquired a majority stake in London based credit focussed hedge fund in 2017 for an undisclosed amount

Refresco Group[edit]

In 2017, BCI and French private equity firm acquired Refresco's European bottling business for $1.6 Billion in cash

Delta Hotels[edit]

  • In 2007, Delta Hotels, a luxury chain of hotels was acquired by BCI from Fairmont Hotels and Resorts, and eventually sold to Marriott Hotels in 2015

TimberWest Forest Corporation[edit]

  • in 2011, BCI and PSP Investments acquired the Canadian publicly traded TimberWest Forest Corporation for $1.03 Billion in cash and debt in a take-private buyout transaction

References[edit]

  1. "2016 Annual report". BCIMC.
  2. "Condensed Interim Consolidated Financial Statements of BCIMC - December 31, 2017". BCI.ca. February 8, 2018. p. 1.
  3. "BCIMC Homepage". Retrieved 26 February 2018.
  4. "2017 Annual Report". BCIMC. May 26, 2017.
  5. Thompson, Jennifer (May 18, 2017). "Canada Pension Plan triples returns on global markets rally". ft.com.
  6. Cite error: Invalid <ref> tag; no text was provided for refs named BCI.ca


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