Canada's Ontario Teachers' fund buys KKR's stake in Australia's GreenCollar

(Reuters) - Canada's Ontario Teachers' Pension Plan said on Monday it acquired stakes held by KKR & Co and other shareholders in GreenCollar, making it the majority stakeholder in the Australian environmental markets platform.

Ontario Teachers', Canadia's third-largest pension fund, first invested in GreenCollar in March 2022.

Financial terms of the deal were not disclosed. KKR declined to provide further details, while the other parties did not immediately respond to a Reuters email for comment.

Founded in 2011, GreenCollar is an environmental markets investor that works with landowners and managers in Australia to develop projects that create commercial opportunities by generating environmental credits.

"We look forward to our deepening relationship and collaboration with Ontario Teachers' and tapping into their knowledge and expertise in the natural resources sector," James Schultz, the CEO and co-founder of GreenCollar, said in a joint statement.

The transaction is expected to close in the fourth quarter of 2023 subject to regulatory approvals, the statement said.

(Reporting by Ayushman Ojha; Editing by Savio D'Souza)