An investment fund managed by Australian investment manager IFM Investors has agreed to acquire a combined 63.9% stake in Associated British Ports (ABP), the UK’s largest port operator, which is valued at about £10 billion.

The fund will buy the stakes held by Canada Pension Plan Investment Board (CPP Investments) and Canadian pension fund OMERS, which are selling their respective 33.9% and 30% holdings.

Financial terms were not disclosed, and completion is subject to stakeholder review and approval processes.

ABP operates 19 port facilities and handles about 25% of the UK’s seaborne trade. The group also supports more than half of the country’s offshore wind sector, providing infrastructure for the energy transition.

“We are pleased to have reached an agreement where a fund managed by IFM would acquire a majority stake in ABP, the UK’s largest ports group with strategically located assets serving some of the country’s most important trade and industrial regions. We look forward to supporting continued development of ABP’s infrastructure and operations, drawing on IFM’s long-term investment approach and experience across ports and other essential infrastructure assets,” said Kyle Mangini, Global Head of Infrastructure, IFM Investors.

“Today marks a bold new chapter for ABP. Since my arrival at ABP eight years ago, I have experienced firsthand the support for our business and the execution of growth opportunities provided by CPP Investments and OMERS. On behalf of the entire company, I would like to extend my profound appreciation for their partnership,” said Henrik L. Pedersen, CEO of Associated British Ports. ” Attracting investment from a fund managed by IFM Investors is a powerful endorsement of our business, our people and our strategy.”

The transaction is subject to customary shareholder and regulatory approvals and is expected to complete in H1 2027.

The two Canadian investors announced their intention to sell their holdings in ABP in February 2026. The proposed sale was reported at the time as one of the largest infrastructure divestments in British history. Hermes, an asset manager holding a smaller 6% stake in ABP, was also reported to be considering an exit.

ABP’s valuation narrowed the field of potential buyers, with few port operators able to compete for a stake of this scale, although private equity groups Apollo and KKR and India’s Adani Group were also reportedly interested.

CPP Investments acquired its stake in 2015, while OMERS first invested in ABP in 2006.