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Thursday, March 23, 2023

OMERS to cut back on external GPs

Date: Wednesday, October 28, 2009
Author: AltAssets.net

The pension’s goal is to reduce externally managed investments to 20 per cent of its portfolio. Currently, OMERS’ private equity portfolio is 65 per cent invested through fund managers and 35 per cent through direct investments. The fund reportedly has a target of ten per cent allocation to private equity.

The fund has expanded its global reach over the past year by opening offices in London and New York. At the time of opening the London office, OMERS president and CEO Michael Nobrega said that the fund’s “long-term goal is to invest 42.5 per cent of our net investment assets in private markets on a global basis.” OMERS has $5bn of capital interests in real estate and infrastructure assets in the UK.

OMERS provides retirement benefits to 380,000 members on behalf of over 900 different employers in the province of Ontario, Canada.