May 8, 2018 / 1:51 PM / 7 months ago

Canadian pension fund raised stake in Kinder Morgan - Financial Post

May 8 (Reuters) - British Columbia Investment Management Corp, one of Canada’s largest pension fund managers, recently boosted its stake in TransMountain pipeline operator Kinder Morgan Inc, the Financial Post reported, citing regulatory filings.

BCIMC, which manages British Columbia public-sector pension funds, bought 21,214 shares of Kinder Morgan during the fourth quarter, the newspaper reported.

The purchase raised BCIMC's stake to 1.12 million shares, making its position worth more than $18 million, the Financial Post said here

The fund and Kinder Morgan did not immediately respond to requests for comment.

News of the purchase comes a month after Kinder Morgan said it halted most work on the C$7.4 billion oil pipeline expansion which was fiercely opposed by British Columbia’s left-leaning New Democratic government, activists and some aboriginal groups. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Maju Samuel)

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