The Ontario Teachers’ Pension Plan had added a British firm to its stable of investments.
The plan has acquired Busy Bees Nursery Group (Busy Bees), the largest childcare provider in the United Kingdom.
The terms of the transaction were not disclosed and Busy Bees’ management maintains a significant minority stake in the company.
Busy Bees was founded in 1983 and operates 213 nurseries, with 7,000 staff members providing care for 20,000 children.
the Teachers’ acquisition of Busy Bees from Knowledge Universe was made through its private equity investment division, Teachers’ Private Capital.
With $129.5 billion in net assets as of Dec. 31, 2012, the Ontario Teachers’ Pension Plan is the largest single-profession pension plan in Canada.
It invests the pension fund’s assets and administers the pensions of 303,000 active and retired teachers in Ontario.