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Ontario Pension Board provides US$100 million equity financing for South West Detention Centre

Fasken
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Ontario Pension Board

On April 11, 2011, Infrastructure Ontario and the Ministry of Community Safety and Correctional Services announced that the Province had reached financial close with Forum Social Infrastructure to design, build, finance and maintain the South West Detention Centre, a maximum security facility to be located in Windsor, Ontario. Construction of the detention centre is expected to begin in the summer of 2011 and will be completed in the fall of 2013. The Province signed a contract with Forum Social Infrastructure for $247 million, in current dollars. When adjusting for the anticipated inflation over the 30-year contract term, the contract value is approximately $336 million. Forum Equity Partners Inc. together with the Ontario Pension Board provided $100 million equity funding for the project. Fasken Martineau acted for Ontario Pension Board with a team that included Brian Kelsall, Ella Plotkin, Lisa Marcuzzi and Marc Lefler.

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