Canadian pension manager Caisse de dépôt et placement du Québec has invested in a major oil and gas pipeline on the Gulf Coast of the United States. Caisse de dépôt paid about $850 million for a 16.55 percent interest in Colonial Pipeline Co. and Colonial Ventures. The Colonial Pipeline is the largest refined petroleum products pipeline in the United States and extends more than 8,800 kilometers between the Gulf of Mexico and the Northeastern United States and transports the equivalent of 2.3 million barrels per day.

Prior to being finalized, the transaction will be subject to a right of first refusal (ROFR) by the shareholders of Colonial Pipeline. Based on the positive outcome of the ROFR exercise, the Caisse de dépôt expects to close the transaction during first quarter 2012.