OMERS Capital Partners
 |
|
| Industry | Pension funds |
|---|---|
| Predecessor | Ontario Municipal Employees Retirement System |
| Founded | 1962 (original) 2006 (current) |
| Headquarters | Toronto, Ontario, Canada |
|
Area served
|
Province of Ontario and nationwide |
|
Key people
|
Michael Latimer (President and CEO) George Cooke (Chairman, Administration Corporation) Brian O'Keefe (Co-Chairman, Sponsors Corporation) Marianne Love (Co-Chairman, Sponsors Corporation) |
| Total assets |
C$ 65.1 billion (December 2013) |
| Divisions | Borealis Infrastructure OMERS Capital Markets OMERS Private Equity OMERS Strategic Investments Oxford Properties |
| Website | omers |
OMERS, officially the Ontario Municipal Employees Retirement System, is a pension fund created by statute in 1962 to handle the retirement benefits of local government employees in the Canadian province of Ontario. It has become one of the largest institutional investors in Canada. Over the past 20 years approximately two-thirds of the capital added to the pension fund has been through investment returns, while about 1/3 has been added by contributions split evenly between employees and employers. As of December 2013[update], OMERS had 65.1 billion Canadian dollars in net investment assets. OMERS serves 982 employers and almost 440,000 members, retirees and survivors, including municipal workers, firefighters, police, emergency services staff, Children's Aid Society workers, school board staff (non-teaching), and transit and hydro workers.
OMERS is governed by the Ontario Municipal Employees Retirement Act, 2006, an Ontario law which superseded the older Ontario Municipal Employees Retirement System Act.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 five major investment divisions:
OMERS investment strategy since 2003 has been to increase its investment in infrastructure to 15% from the former 7.9%. In addition to the corporate assets outlined below, Borealis owns 16 school buildings, leased to the Province of Nova Scotia, and 12 nursing home buildings, leased to the Province of Ontario.
Outline of Borealis assets:
Among the private companies OPE owns are Marketwire (purchased at the end of 2006) and Oxford Properties (purchased at the beginning of 2003)
OMERS and Apax Partners (a fund OMERS invests in) jointly own Cengage Learning, a large education resource company formerly known as Thomson Learning before OMERS and Apax Partners bought it on May 11, 2007. Some parts of Thomson Learning had been sold off to other groups before this sale. Among Cengage's major brands are Gale (formerly Thomson Gale) and Nelson Education (Nelson Canada, not Nelson USA Education).
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