The Ontario Municipal Employees’ Retirement System is considering the sale of LifeLabs Inc., according to a report by The Globe and Mail.

A spokesperson for the infrastructure arm of the OMERS said the investment organization has held preliminary negotiation talks with “multiple potential buyers” but is currently not in any late-stage discussions. The report said the OMERS is seeking an asset valuation north of the $2.5 billion that it invested into the firm.

The OMERS acquired LifeLabs for $1.33 billion in 2007 from Toronto-based firm MDS Inc.

Read: Caisse invests $200M in Swedish battery maker, OMERS closes US$1BN term notes offering

In other news, the Canada Pension Plan Investment Board is selling a part of its stake in European software company Visma.

The investment organization will retain a two per cent stake in Visma through a partial realization of the existing stake to a pool of existing and new investors, according to a press release, which noted the transaction values Visma at €19 billion and is expected to generate about $700 million in net proceeds.

“We thank the entire management team for their outstanding performance during a period of strong growth generating exceptional investment returns including in the unpredictable market environment witnessed over the last few years,” said Hafiz Lalani, managing director and global head of direct private equity at the CPPIB, in the release.

Read: CPPIB sells $2BN worth of fund interests, Caisse invests in Quebec media company

The CPPIB is also investing $1.2 billion for a 20 per cent stake of a joint venture holding a commercial real estate loan portfolio primarily located in the New York metropolitan area.

The portfolio, which holds about $17 billion worth of more than 2,600 first mortgage loans on retail, market rate multi-family and office properties, was previously owned by Signature Bank. The investment organization is collaborating with Blackstone’s real estate business for this transaction. The joint venture was created with the Federal Deposit Insurance Corp.

“The current real estate credit market is a promising source of long-term returns for the CPP fund and we look forward to exploring further opportunities to invest in this and other capital-constrained sectors,” said Geoffrey Souter, managing director and head of real assets credit at the CPPIB, in a press release.

Read: CPPIB returns 0.1% in Q2 2024, led by credit, private equity