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- December 2011: Vol. 4, Number 11

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Morgan Stanley Sells Stake in SAESA Group

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1 Morgan Stanley Infrastructure Partners (MSIP) has sold its 50 percent interest in SAESA Group, a Chilean electricity distribution, transmission and generation company. The buyer is the C$71 billion ($70 billion) Alberta Investment Management Corp., an institutional investment fund manager that invests on behalf of 26 pension, endowment and government funds in the province of Alberta, Canada. Terms of the transaction were not disclosed. MSIP, a $4 billion global infrastructure fund, invested in SAESA in July 2008 along with the C$107.5 billion ($106 billion) Ontario Teachers’ Pension Plan (OTPP). Under the agreement, MSIP and the pension fund each owned 50 percent of the company. Following the sale, OTPP will retain its 50 percent interest.

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