Canada’s $58 billion pension fund Public Sector Pension Investment Board has invested €500 million ($613 million) in Isolux Infrastructure, the concessions arm of Spanish developer Isolux Corsan.

The investment is part of a capital raise that also included a €100 million ($123 million) equity injection from its parent company. The additional capital will support Isolux Infrastructure’s expansion.

Madrid-based Isolux Corsan decided in summer 2011 to aggregate all its worldwide concessions activities into a new company — Isolux Infrastructure. The latter comprises a raft of projects requiring capital investments of approximately €7.5 billion ($9.2 billion). Concessions had, in recent years, been growing the strongest among Isolux C