OMERS Ventures, the venture capital arm of the Ontario Municipal Employees Retirement System, is expanding into the U.S. with an office in Silicon Valley, California. The firm is hiring Michael Yang, an experienced venture capital investor who’s especially familiar with investing in startup e-commerce and emerging technologies. “We are thrilled to expand our physical footprint with dedicated resources to deploy additional capital […]
The Corporation of the City of York Employee Pension Plan officially transferred the management of its assets and liabilities to the Ontario Municipal Employees Retirement System plan last week, as part of a broader initiative to transfer four pre-OMERS plans from the City of Toronto to OMERS. The City of York plan was closed to […]
The Corporation of the City of York employee pension plan is merging with the Ontario Municipal Employees Retirement System. The City of York plan is one of five defined benefit plans sponsored by the City of Toronto. It covers 83 retired members and 79 survivor pensioners. Its latest valuation showed that, as of Dec. 31, 2017, it had […]
Readers were focused on the Canada Pension Plan and old-age security in 2018, with the top three most read stories tackling those topics. Benefits Canada rounds up the industry’s favourite pension and retirement stories of the year: 1. New CPP, OAS benefit amounts take effect for 2018 2. Increase to OAS benefits takes effect July 1 3. Why aren’t Canada’s public […]
The Ontario Municipal Employees Retirement System’s private equity arm is selling its majority stake in a U.S. auto repair company to investment firm Hellman & Friedman. The pension fund invested in Caliber Collision Centers, an auto collision repair provider with 600 branches around the U.S., in 2013. The transaction will lead to a merger between Caliber and Abra […]
The Ontario Municipal Employees Retirement System’s infrastructure arm, along with Allianz Capital Partners and Axa Investment Manager’s real assets service, is taking on a 49.9 per cent stake in SFR FTTH, a French fibre optic infrastructure company. The newly incorporated company, formed by Altice France, currently services one million homes, and that’s set to grow to […]
The Ontario Municipal Employees Retirement System’s private equity arm is selling MatrixCare Holdings Inc., a health-care technology company, to ResMed Operations Inc. for about $982 million. “We first acquired MatrixCare as part of a larger acquisition in 2010,” said Mark Van Wart, managing director of OMERS Private Equity, in a press release. “Since bringing John Damgaard in as CEO in […]
The Ontario Municipal Employees Retirement System has appointed Enrico Persicone as manager of pension policy. Previously, Persicone worked as a senior manager for BMO Canada’s pension program for it’s own employees, specializing in risk, policy, financial impacts and administration. He was also a senior tax associate in Ernst & Young’s talent and reward group. And he began his career in […]
The Ontario Municipal Employees Retirement System is acquiring California-based medical management company Paradigm Outcomes. The existing majority owner, Summit Partners, will continue to be a shareholder. Paradigm, which provides medical management to the workers’ compensation industry in the United States, is OMERS’ latest health-care investment. The pension fund has also invested in Premise Health, Forefront Dermatology, […]
Just one Canadian pension fund ranked in the top 20 global funds based on their responses to the recommendations of the task force on climate-related financial disclosures, according to new research by the Asset Owners’ Disclosure Project. The Ontario Teachers’ Pension Plan, which was awarded a BBB rating, placed No. 16 out of the top 100 […]