OMERS

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OMERS
Industry Pension funds
Founded 1962; 55 years ago (1962) (original)
Headquarters Toronto, Ontario, Canada
Area served
Province of Ontario membership
Key people
Michael Latimer
(President and CEO)
George Cooke
(Board Chair, OMERS Administration Corporation)
Paul Harrietha
(Chief Executive Officer, OMERS Sponsors Corporation)
Marianne Love
(Co-Chair, OMERS Sponsors Corporation)
Frank Ramagnano
(Co-Chair, OMERS Sponsors Corporation)
Total assets C$ 85.2 billion
(December 2016)
Divisions Borealis Infrastructure
OMERS Capital Markets
OMERS Private Equity
Oxford Properties Group
Website omers.com

OMERS is a pension fund created by statute in 1962 to provide defined pension plan benefits to local government employees, retirees and beneficiaries in the Canadian province of Ontario. It has become one of the largest institutional investors in Canada. As of December 2016, OMERS had 85.2 billion Canadian dollars in net investment assets.[1] OMERS serves over 470,000 active, deferred and retired employees from nearly 1,000 municipalities, school boards, libraries, police and fire departments, and other local agencies in communities across Ontario.[2]

Structure[edit]

OMERS is governed by the Ontario Municipal Employees Retirement Act, 2006, an Ontario law which superseded the older Ontario Municipal Employees Retirement System Act.

Under the 2006 law, OMERS consists of two corporations:

  • The OMERS Administration Corporation, formerly known as the Ontario Municipal Employees Retirement Board, provides strategic and operational management in serving Plan members and employers, collecting contributions and paying pensions, and investing the Plan funds.[3]
  • The OMERS Sponsors Corporation provides strategic oversight and decision-making with regard to designing affordable pension benefits, setting contribution levels, and determining the composition of the two OMERS Boards.[3]

Investments[edit]

OMERS has four major investment divisions:[1]

  • Borealis Infrastructure, which invests in large-scale infrastructure businesses in energy, social infrastructure and transportation - primarily in North America, Europe and Australia.
  • OMERS Capital Markets, which invests in fixed income investments in government bonds, inflation-linked bonds and public and private credit, along with public investments, managed mostly by the Capital Markets team.
  • OMERS Private Equity, which seeks to acquire significant ownership interests in private companies in North America, the U.K. and Europe, with the objective of generating strong capital returns.
  • Oxford Properties Group, which focuses on investing in the major global urban centres in Canada, the U.S. and Europe.

Borealis Infrastructure[edit]

Borealis' investment approach[1] is to seek strong, stable cash flows through investments in large-scale infrastructure businesses. These businesses include regulated services with long-term delivery contracts, which are generally protected with revenue, inflation and other support, such as guarantees that contribute reliable income over the long term.

Outline of Borealis assets:[4]

  • Associated British Ports (owned since 2006) — as the U.K.'s largest ports group, handles nearly a quarter of the U.K.'s seaborne trade
  • Alectra (owned since 2017) — reliable energy provider serving approximately one million customers in various communities in Ontario, Canada
  • Bruce Power (owned since 2003) — Canada's only private sector nuclear generator and the world's largest nuclear operating site, generating approximately one-third of Ontario's electricity from its 6,300 MW facility
  • Caruna (owned since 2013) — Finland's largest electricity distribution network supplying approximately 635,000 customers with 12,600 TWh of electricity distributed annually
  • Chicago Skyway (owned since 2015) — manages, operates and maintains the 12.5 kilometer (7.8 mile) Chicago Skyway toll road under a concession agreement which runs until 2104
  • CLH (owned since 2016) — provides refined oil products transportation and storage in Spain and the U.K., through a network of thousands of kilometres of pipelines and storage facilities
  • Ellevio (owned since 2015) — Sweden's second-largest electricity distributor supplying approximately 900,000 customers
  • GNL Quintero (owned since 2017) — Regasification terminal supplying all the gas consumed in Santiago, Chile and surrounding region
  • High Speed 1 (owned since 2010) — holds the 30-year concession to operate, manage and maintain the 109 kilometer high-speed rail line connecting London with Kent, and European destinations via the Channel Tunnel
  • LifeLabs (owned since 2007) — Canada's largest community laboratory services provider, performing more than 100 million lab tests annually, serving 19 million patients
  • London City Airport (owned since 2016) — London City Airport is the closest airport to Central London, located 7 miles from the City of London financial district and 3 miles from the Canary Wharf financial centre, and served more than 4.3 million passengers in 2015
  • MCV (owned since 2012) — America's largest natural gas-fired combined heat and power plant with a 1,600+ MW electricity capacity, and 1.5 million pounds per hour process steam production capacity
  • NET4GAS (owned since 2013) — exclusive gas transmission system operator in the Czech Republic, operating more than 3,800 km of pipelines and transporting 45 billion m3 of natural gas annually
  • Port of Melbourne (owned since 2016) — Australia's largest container and multi-cargo port. With 36 commercial berths, the Port is visited by more than 3,000 ships each year
  • Oncor (owned since 2008) — the largest transmission and distribution company in Texas, providing electricity to more than 10 million customers via more than 119,000 miles (191,000 km) of transmission and distribution lines
  • Scotia Gas Networks (owned since 2017) — The U.K.'s second largest gas distribution network, supplying approximately 5.8 million residential, commercial and industrial consumers in Scotland and Southeast England
  • Tank & Rast (owned since 2015) — Germany's largest owner and concessionaire of a network of motorway service areas providing essential services to 500 million visitors each year
  • Teranet (owned since 2008) — the exclusive provider of essential, statutory electronic property search and registration services under long-term concessions in the provinces of Ontario and Manitoba

OMERS Private Equity[edit]

OMERS core equity approach[1] is to acquire significant ownership interests in private companies in North America, the U.K. and Europe, with the objective of generating strong capital returns. OMERS Private Equity takes a thoughtful approach to capital deployment and invests in companies with solid business fundamentals, strong management teams and opportunities to grow.

Outline of OPE assets:[5]

  • Caliber Collision Centers (owned since 2013) — one of the largest collision repair operators in the U.S., with a network of more than 450 centres across 17 states
  • CBI Health Group (owned since 2011) — Canada's leading provider of outpatient rehabilitation and home health services, with more than 250 clinics and healthcare facilities
  • CEDA — provides maintenance, turnaround, mechanical and construction services for oil and gas, refinery, petrochemical, mining and other industrial facilities
  • Civica (owned since 2013) — a market-leading specialist in digital solutions, critical software and outsourcing services that help teams and organizations around the world transform the way they work
  • DTI (owned since 2014) — leading provider of e-Discovery and other outsourced legal processing solutions
  • ERM (owned since 2015) — Environmental Resources Management (ERM) is a leading global provider of environmental, health, safety, risk and social consulting services and sustainability-related services, with more than 160 offices in over 40 countries
  • Forefront Dermatology (owned since 2016) — a medical dermatology provider offering fully integrated surgery and pathology services with approximately 90 clinics
  • Hayfin (owned since 2009) — independent investment firm providing leading solutions to European medium-sized companies, along with operating complementary business lines across corporate, maritime and alternative credit
  • Husky Injection Molding Systems (owned since 2011) — Global supplier of highly engineered systems solutions and related services for the injection molding and polyethylene terephthalate industries
  • Kenan Advantage (owned since 2015) — North America's largest tank truck transporter and logistics provider, delivering fuel, chemicals, industrial gases, and food-grade products
  • Lifeways (owned since 2012) — one of the U.K.'s leading providers of support services for people with diverse and often complex needs in community settings
  • MatrixCare (owned since 2010) — the largest long-term, post-acute care technology provider and is used in more than 11,000 facility-based care settings and 1,500 home care and home health agencies
  • Sysomos (owned since 2015) — a leader in social analytics software, offering a portfolio of solutions that enables companies to measure and report social media success across channels
  • V.Group (owned since 2011) — a leading global maritime service provider, specializing in the outsourced technical management of high value maritime assets and the provision of a wide range of high value supporting technical, workforce and commercial services
  • VUE (owned since 2013) — world-class multiplex cinema operator and developer with more than 1,875 screens in 10 countries

Oxford Properties Group[edit]

Oxford's approach[1] is centered on building a world-class, global real estate investment and management platform that delivers stable income and capital returns. The diversified portfolio includes 60 million square feet of office, retail and industrial properties, along with multi-family and hotel properties, and development projects in key markets globally.

Oxford's strategy focuses on investing in the major global, urban centres in Canada, the U.S. and Europe. The platform is very well-diversified across regions, property types and industry groups, and Oxford uses its competitive advantage in the development sector to access unique investment opportunities.

See also[edit]

References[edit]

  1. ^ a b c d e {{{1}}}2016 OMERS Annual Report, inside cover | url = http://www.omers.com/corporate/OMERS_at_a_Glance.aspx | title = OMERS - Home | publisher = OMERS | date = 2008-07-04 | accessdate = 2008-07-17 }}
  2. ^ | url = http://www.omers.com/About_OMERS.htm | title = About OMERS | publisher = OMERS | date = 2008-06-18 | accessdate = 2008-07-17 }}
  3. ^ a b "Sponsors Corporation". OMERS. 2008-05-22. Retrieved 2008-07-17. 
  4. ^ "Assets". OMERS. 2007-06-26. Archived from the original on 2008-06-18. Retrieved 2008-07-18. 
  5. ^ "Assets". OMERS. 2007-12-17. Archived from the original on 2008-06-18. Retrieved 2008-07-18. 

Introduction

  • {{{1}}}2016 OMERS Annual Report, inside cover
  • {{{2}}}2016 OMERS Annual Report, inside cover

Structure

  • {{{3}}}2016 OMERS Annual Report, inside cover

Investments

  • {{{1}}}2016 OMERS Annual Report, pages 37, 38

Borealis Infrastructure

  • {{{1}}}2016 OMERS Annual Report, page 37
  • {{{4}}}OMERS Private Markets web site, May, 2017

OMERS Private Equity

  • {{{1}}}2016 OMERS Annual Report, page 38
  • {{{5}}}OMERS Private Markets web site, May, 2017

Oxford Properties Group

  • {{{1}}}2016 OMERS Annual Report, page 38