PSP Investments joins $700 mln investment in Lytx

U.S. video telematics provider Lytx Inc has secured US$700 million in financing in a deal that values the business at more than US$1.5 billion. A group of investors participated, including Clearlake Capital Group and Public Sector Pension Investment Board (PSP Investments), a Canadian pension fund manager. They join the company's controlling shareholder GTCR, a U.S. private equity firm. GTCR acquired Lytx in March 2016. Based in San Diego, California, Lytx's video telematics help commercial and public sector fleets improve driver behaviour and reduce collisions and related expenses.

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