Our diversified approach
Diversification is an important investment tool. A mix of assets helps the board secure the basic pension for every member.
The plan’s investment agent, BCI, invests in a wide range of opportunities. The investments reflect the board’s investment beliefs and the plan’s asset mix. Here are examples of current investments.
Franchise Services Asia
Franchise Services Asia (FSA) is a direct co-investment in BCI’s Private Equity program. It is a South Korean restaurants franchisor and wholesale distributor with a portfolio of brands. One of the brands is BHC, a fried chicken fast food restaurant that makes up approximately 80 per cent of the company's enterprise value. FSA generates steady cash flows, maintains low capital expenditures, and has access to attractive debt financing. In December 2018, BCI invested alongside MBK Partners, with whom we have a successful co-investment relationship as an anchor investor in one of their funds. BCI has representation on the board of directors as part of the investment. This deal is a prime example of the Private Equity program's opportunistic growth strategy, where the focus is to buy high-quality assets at low prices.
Corix is a $1 billion North American multi-utility company held in BCI’s infrastructure and renewable resources program. The company provides water and wastewater services, and manages community-based utility systems for large customers, such as universities and military bases. BCI has increased its ownership position to 100 per cent over multiple transactions. Since then, BCI has been actively managing the asset to improve profitability and operational efficiency. This has included serving on the board and working with management to reorganize select divisions and refine mergers and acquisition activities for continued growth.
The Post is an office and retail heritage development taking shape at the site of the former Canada Post building in downtown Vancouver. The development will include 1.13 million square feet of state-of-the-art office space in two new towers, surrounded by retail and public spaces. Located at the convergence of Yaletown, Downtown, Gastown and Chinatown neighbourhoods, The Post will provide convenient access to a best-in-class shopping experience for a growing and diverse community catering to thousands of technology workers, businesses and residents in the Crosstown neighbourhood.