Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, has completed the split of Isolux Infrastructure Netherlands (Isolux Infrastructure) with Grupo Isolux Corsan (Grupo Isolux).

Following the completion of this deal, PSP Investments has become the only shareholder of Isolux Infrastructure.

Isolux Infrastructure will be renamed ROADIS.

"The ROADIS management team has proven capabilities to source and successfully execute new acquisitions in the road sector."

Holding a portfolio of 1,644km of roads across nine concessions located in Brazil, India, Mexico, Spain and the United States, ROADIS will serve as PSP Investments’ new global road investment platform.

PSP Investments senior vice president and global head of private investments Guthrie Stewart said: "Building partnerships with strong operators and leveraging industry-specialized platforms is one of PSP Investments’ strategies to capture value and generate attractive returns.

"This transaction is an excellent example of this strategy being put to action.

"The ROADIS management team has proven capabilities to source and successfully execute new acquisitions in the road sector.

"We look forward to supporting them in growing the ROADIS portfolio in this new and exciting phase for this platform."

As part of the deal, PSP Investments also secured Grupo Isolux’s indirect interest in the Wind Energy Transmission Texas (WETT) joint venture, which in turn has led to PSP Investments owning a 50% interest in WETT.