Brookfield to sell 50% interest in Enercare to PSP Investments

On November 9, 2026, Brookfield and its institutional partners (collectively, “Brookfield”) announced an agreement to sell a 50% interest in Enercare Inc. (“Enercare”) to the Public Sector Pension Investment Board (“PSP Investments”) for approximately C$1.6 billion. Following the proposed transaction, Brookfield and PSP Investments will remain invested in Enercare, with the existing management team continuing in place. The transaction is expected to close in the first half of 2027, subject to customary regulatory approvals.

PSP Investments previously invested alongside Brookfield in the privatization of Enercare. McCarthy Tétrault advised Brookfield on its take-private acquisition of Enercare in 2018.

Brookfield is one of the world’s largest alternative asset managers, with more than US$1 trillion in assets under management across infrastructure, energy, private equity, real estate and credit.

Enercare Inc. is one of Canada’s leading home and commercial services companies, providing heating, cooling, plumbing, electrical, water heating and water purification solutions to more than 1.4 million homes and businesses nationwide.

PSP Investments is one of Canada’s largest pension investors, managing a diversified global portfolio across capital markets, private equity, real estate, infrastructure, natural resources and credit investments.

McCarthy Tétrault LLP is acting as legal counsel to Brookfield, with a team led by Jonathan See, Jeremy Pleasant and Haiya Peng and includes Jake Irwin, Chanelle Bristol, Sheema Rezaei, Dan Schechner, Shashank Chaddha, Vivian Sy, Meghan Noel, Maneet Kahlon (M&A), Gideon Kwinter, Jason Gudofsky, Oliver Borgers, Erin Keogh (Competition), Selina Lee-Andersen, Gwen Wren (Environmental), Jo-Anna M.L. Brimmer, William Lee, Eve Tessier, Juliana R. Smith, Olivia Trojko (Financial Services), Jamie Becker (Funds), Vincent Yip, Jeff Sun (Intellectual Property), Kate McNeill-Keller, Patrick Pengelly (Labour & Employment), Shane C. D’Souza, Geoff Hall, Vasuda Sinha, Jocelyn Turnbull Wallace (Litigation), Susan Nickerson, Kelleher Lynch, Julia Miller (Pensions and Benefits), Isabel Henkelman, Yasin Celik (Real Property), Stephanie Sugar, Evie Bouras, Elizabeth Yu, Ana Badour, Martha Harrison, Gajan Sathananthan, Vanessa Johnson, Shalini Walisundara Mudiyanselage (Regulatory), Raj Juneja, Jeff Oldewening, Adam N. Unick, Daniel A. Downie, Justin Ng, Suhaylah Sequeira, Quinn Finlay (Tax), and Conrad Lee (Technology).