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.
Reproduction in whole or in part without permission is prohibited.
