OMERS
 |
|
| Industry | Pension funds |
|---|---|
| Founded | 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 |
OMERS, officially the Ontario Municipal Employees Retirement System, 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[update], OMERS had 85.2 billion Canadian dollars in net investment assets. 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.
OMERS is governed by the Ontario Municipal Employees Retirement Act, 2006, an Ontario law which superseded the older Ontario Municipal Employees Retirement System Act.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 is composed of two corporations:
OMERS has four major investment divisions:
Borealis' investment approach 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:
OMERS core equity approach 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:
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