Global institutional investors say they intend to gently reduce their average new capital commitments to real estate in 2020. According to a new report by Institutional Real Estate Inc. and Kingsley Associates, survey respondents said they’re reducing their new spend by an average of 11 per cent this year. Notably, the survey was conducted between Nov. 12, […]
The Canada Pension Plan Investment Board, alongside Dutch pension fund ASG and asset manager ESR Cayman Ltd., has entered into a new strategic agreement to establish a new development joint venture in South Korea with a total equity allocation of US$1 billion. The joint venture, ESR-KS II, will invest in and develop an industrial and […]
The Ontario Municipal Employees Retirement System is appointing Bob Aziz as its new chief operating officer and Michael Kelly as its chief legal and corporate affairs officer. In the new role, effective April 20, Aziz will have oversight of the OMERS’ data and technology, privacy, government relations and global operations teams. He’ll also join the organization’s senior executive team […]
The Canada Pension Plan Investment Board and the Ontario Teachers’ Pension Plan are purchasing 40 per cent of the shares of Impulsora del Desarrollo y el Empleo en América Latina, a Mexican infrastructure developer. The two organizations made their tender offer to buy shares of the publicly traded company, at MXN$43.96 per share, following the initial announcement of […]
The world may be more digital than ever, but a physical presence can still sometimes make the difference between success and failure for pension plans For the OPSEU Pension Trust, establishing offices abroad was a logical step. Its private markets group, which is based in Toronto, was undertaking a lot of global investment activity, so […]
The Alberta Investment Management Corp. delivered a 10.6 per cent return in 2019, net of all fees, representing a net investment income of about $11.5 billion and bringing the fund’s total assets under management to $118.8 billion. While the results were positive, and well above the organization’s 2.5 per cent return in 2018, its total […]
The Public Sector Pension Investment Board is making a strategic investment in SitusAMC, which provides advisory, outsourcing, talent and technology solutions to both the commercial and residential real estate finance industries. The PSP joins previous backer, private equity firm Stone Point Capital, which will remain SitusAMC’s largest shareholder. Read: PSP subsidiary starts development consultations for Toronto property […]
Canada’s defined benefit plans have had a rough quarter. According to Aon’s median solvency ratio, DB plans fell to an average solvency of 89.1 per cent at the end of the first quarter, from 102.5 per cent at the end 2019. Mercer’s pension health index also dropped, from 112 per cent at the end of […]
The Public Sector Pension Investment Board and the Alberta Teachers’ Retirement Fund Board have completed the purchase of all 30,000,000 common shares of AltaGas Canada Inc. Through the all-cash transaction, which was announced in October 2019, each share was sold for $33.50, coming to a total of $1.005 billion. AltaGas will now be known as TriSummit Utilities Inc. The two pension […]
The Ontario Teachers’ Pension Plan posted a net return of 10.4 per cent for 2019, bringing net assets to $207.4 billion. Its $20.2 billion in investment income represents an organizational best, said Jo Taylor, the pension fund’s president and chief executive officer, on a conference call Tuesday morning, outperforming the 2018 return of 2.5 per cent after a volatile year in […]