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Thursday, May 28, 2020

Ontario Teachers' embarks on London scouting mission

Date: Friday, May 11, 2007
Author: Vivek Ahuja, Financial News

The private investment arm of the Ontario Teachers’ Pension Plan, the C$106bn (€71bn) Canadian pension fund, has opened its first foreign office in London as part of its push to make bigger, direct private equity investments in Europe.

Teachers’ Private Capital, a part of the Ontario pension fund that has more than C$4bn invested in European private equity and infrastructure, has set up a London office and shifted Andrew Claerhout from Canada to run it, the group said in a statement yesterday.

Jim Leech, senior vice president at Teachers’ Private Capital, said the new office “enables us to scout direct private equity investments as well as partnership commitment opportunities”.

He added: “Although we initially invested only as a minority shareholder with partners, as the fund has grown, we have moved to assume larger positions.”

The Ontario pension fund was part of the Goldman Sachs-led consortium that tried unsuccessfully to acquire UK airport operator BAA last year.