The investment of $1.438 billion by the Ontario Municipal Employees Retirement System (OMERS) for a 50% stake in the BridgeTex Pipeline Co. LLC is the third major investment in U.S. energy assets this year. Other deals include the purchase of wind power owner and operator Leeward Renewable Energy LLC in March; and the announcement earlier in August of the acquisition of a 24% stake in Puget Holdings LLC, owner of Puget Sound Energy, a large electric and natural gas provider in western Washington State.

The strategy makes sense for organizations like OMERS.

“The risk profile of a proven U.S. pipeline asset with a likelihood of strong long-term utilization is ideally suited for retirement funds like OMERS,” Greg Haas, director for integrated energy research at Stratas Advisors, told Hart Energy. “For fiduciary funds such as this, rateable cash flows are always preferred to more volatile returns of other types of investment vehicles.”

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