The Ontario Municipal Employees Retirement System’s portfolio lost 2.7 per cent, net of expenses, last year as the coronavirus pandemic hammered its investments. According to the pension fund, widespread lockdowns in investments that included retail properties and the transportation and entertainment sectors explained more than half of the shortfall to its benchmark for the year. […]
A portfolio company of the Ontario Municipal Employees Retirement System’s infrastructure arm is entering a purchase agreement to acquire a 10-gigawatt solar project development platform. Through the deal, U.S.-based Leeward Renewable Energy will acquire the platform from First Solar Inc., which includes 773 megawatts of projects in California and the southern U.S. that are expected to […]
The Ontario Municipal Employees Retirement System’s infrastructure arm is selling its interest in DoProcess, an Ontario-based software provider for legal professionals. The sale will give full ownership to software producer Dye & Durham Ltd. and is expected to generate approximately $530 million for the OMERS, including $30 million of Dye & Durham common shares. The pension fund acquired […]
A group of Canadian pension plan investment managers is calling on companies to standardize their environmental, social and governance disclosure to help them in their investment decision-making and better assess and manage their risks. Together, the eight fund managers oversee a total of about $1.6 trillion in assets and are committing to strengthening ESG disclosure within […]
The Public Sector Pension Investment Board is part of a group investing $1 billion in Convex Group Ltd., a specialty insurer and reinsurer. In April 2019, Convex launched with $1.7 billion of committed capital. Its initial invested capital was raised from its management team, Onex Partners V, the PSP and a consortium of co-investors. The additional capital has been committed by the original investors, […]
The Ontario Municipal Employees Retirement System’s infrastructure arm is selling its interest in the Detroit River tunnel partnership to Canadian Pacific. The sale, which will give CP full ownership of the rail tunnel, is expected to generate approximately US$312 million for the OMERS. “We are very proud of the value we have created with this […]
The Caisse de dépôt et placement du Québec is among the investors raising $55 million in financing for Onapsis, an application cyber security and compliance company. The investment, alongside NightDragon Security and existing investors .406 Ventures, LLR Partners Inc. and Arsenal Venture Partners, will be used to significantly scale the company through expansion into the applications market, according to […]
The Ontario Municipal Employees Retirement System’s private equity arm is leading a $100 million round of Series E funding for Dialpad Inc. Dialpad provides businesses with a mobile communications platform that covers phone systems, conferencing and call centre needs. Its technology allows it to provide real-time transcription services, automated note-taking and live sentiment and voice […]
The Ontario Municipal Employees Retirement System has appointed Paul Brundage as deputy chair of investments, effective Oct. 1. Previously, he was executive vice-president of Europe and Asia at the pension fund’s real estate arm Oxford Properties Group. As part of the transition, Joanne McNamara and David Matheson are being promoted to executive vice-presidents of Europe […]
The Caisse de dépôt et placement du Québec and multi-stage investment firm S2G Ventures are creating a co-investment partnership whereby the Caisse will invest up to US$125 million over the next three years in ventures that aim to make the food and agriculture industry more sustainable and climate friendly. “By enabling investments in ventures and […]