Teachers’ Private Capital and the Canada Pension Plan Investment Board are investing $115.1 million each to establish Actera Partners, a private equity fund focused on investment opportunities in Turkey. “Turkey is an attractive private equity market, with a large and growing population, a high number of quality mid-market businesses, and a developing economy which is […]
There’s a lack of communication in the U.S. workplace when it comes to benefits and compensation, which could make it more difficult for employees to successfully save for retirement, according to a survey. The eighth annual Transamerica retirement survey found that employers continue to overlook the high value that employees place on retirement benefits compared […]
State Street is acquiring Investors Financial Services in a stock deal worth US$4.5 billion. “Investors Financial Services Corporation and State Street already share a similar focus, service model and customer type,” says Ronald E. Logue, chairman and CEO of State Street, “which makes for a seamless and swift consolidation.” Boston-based Investors Financial provides customers with […]
Sears Canada plans to make changes to its pension plan and cut post-retirement benefits, which will save the company about $25 million by the second half of 2008. The retailer will amend its pension plan by introducing a defined contribution(DC)component effective July 1, 2008. Contributions by associates towards defined benefits will be discontinued and associates […]
The Public Sector Pension Investment Board(PSPIB)has completed its purchase of Retirement Residences Real Estate Investment Trust. An additional 6.3% of issued and outstanding Retirement REIT units were deposited, giving the pension fund 100% of the units. The units of Retirement REIT will be delisted from the Toronto Stock Exchange at the close of business on […]
Paul Haggis, president and chief executive of OMERS, will be leaving later this year. “When I was hired, my job was to set OMERS on the right path, build its investment presence globally and deliver strong results,” Haggis says. “We’ve accomplished those goals so now it’s time for change.” He says the plan’s new governance […]
Employees and the organization they work for can benefit from the promotion of workplace health issues, according to Jan Chappel, a technical specialist at the Canadian Centre for Occupational Health and Safety. Speaking at the Human Resources Professionals Association of Ontario annual conference and trade show in Toronto yesterday, she described seven steps to creating […]
Employers need programs to attract and retain employees that reduce the stress from balancing family and work demands, according to Rosie Parnass, director of organizational and staff development programs at the University of Toronto. Speaking today at the Human Resources Professionals Association of Ontario annual conference and trade show in Toronto today, she said the […]
The recent adoption of Bill 30 in Quebec will have a profound impact on the accountability status of actuaries and investment managers, according to Robert Pouliot, vice-president of the Centre for Fiduciary Excellence. He says it will put an end to the legal capping of their liabilities and by making them fully liable on fiduciary […]
The Caisse de dépôt et placement du Québec is part of a investment consortium that is buying Laureate Education, an online and campus-based university education provider, for US$3.8 billion. The group includes Kohlberg Kravis Roberts(KKR), Citigroup Private Equity, SAC Capital Management, SPG Partners, Bregal Investments, Sterling Capital, Makena Capital, Torreal SA, and Southern Cross Capital. […]