OMERS Private Equity, the private equity arm of the OMERS Worldwide group of companies, has purchased Accelerated Holdings, LLC from San Francisco-based private equity firm Gryphon Investors. Terms of the acquisition were not disclosed. Accelerated Holdings, founded in 1989 and headquartered in Chicago, is a leading provider of traditional and specialty outpatient physical rehabilitation services […]
Socially responsible assets in Canada dropped marginally to $531 billion as of June 30, 2010, compared with $579 billion in 2008, according to the biennial SRI review, released today by the Social Investment Organization. However, SRI still represents about one-fifth of total Canadian assets under management, about the same level as 2008. “SRI has held […]
Berkshire Partners LLC, the Boston-based private equity firm, and OMERS Private Equity Inc., the private equity arm of the OMERS Worldwide group of companies, announced today that they have signed a definitive agreement to jointly acquire Husky International Ltd. and its subsidiaries from Onex Corp. and its affiliated funds. Headquartered in Bolton, Ont., Husky is […]
Several of the stories we’ve run on BenefitsCanada.com over the past few weeks have triggered a lot of discussion. When we asked if convicted felons should receive pensions, one reader pointed out: “It is galling to see Col. William receive his pension. But, pensions are part of total compensation, and a family asset. There is […]
The Canadian M&A market continued its momentum into the fourth quarter of 2010, making it the third successive quarter of increased M&A activity in terms of both transaction volume and value, according to the Financial Post Crosbie: Mergers & Acquisitions in Canada database. Riding on the back of the announcement of 302 transactions, the value […]
Take our poll on the issue. This week, Michael Nobrega, CEO of the Ontario Municipal Employees Retirement System, went on the record saying that the government should open up the administration of the new pooled registered pension plans (PRPPs) to more than just “regulated financial institutions.” “Right now, it’s insurance companies and the banks,” Nobrega […]
The president of CUPE Ontario thinks the lawsuit launched by Toronto Hydro against OMERS that seeks to overturn the decision to limit a newly in force contribution cap is an “outrageous attack on the pensions of hard-working Ontarians. “That Toronto Hydro executives are using the hard-earned dollars Torontonians pay for electricity to sue the OMERS […]
A new cap on contributory earnings for members of OMERS went into effect on Jan. 1, 2011, and Toronto Hydro isn’t happy about it. The utility provider has filed a lawsuit against the pension system. According to an OMERS representative, “the OMERS Sponsors Corporation (SC), through its annual review cycle, is responsible for any changes […]
The Ontario Municipal Employees Retirement System has posted a healthy 12% return for 2010, with net assets rising to $53.3 billion as of December 31, 2010, up from $47.8 billion at the end of 2009. “OMERS achieved excellent investment results in 2010, supporting our mission of creating surplus wealth for plan members and sponsors,” said […]
The Ontario Teachers Pension Plan (Teachers’) confirmed on October 28, that its directors on the board of Maple Leaf Foods—a company in which Teachers’ is a long-time major shareholder of—have resigned. Wayne Kozun, the pension fund’s senior vice-president of public equities, and William Royan, its vice-president of relationship investing, were the two board members who […]