OMERS Capital Partners

The Ontario Municipal Employees Retirement System (OMERS) is a Canadian public pension fund, headquartered in Toronto, Ontario. OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by Ontario provincial statute to administer retirement benefits and manage pension investment funds of local government employees in the Canadian province of Ontario. As of December 31, 2024, OMERS had C$138.2 billion of assets under management, and an 8.3% investment return for the year. OMERS serves over 1,000 participating employers and more than half a million active, deferred and retired employees. OMERS members are employed by municipalities, school boards, transit systems, local electrical distribution companies, police service boards, fire fighting and paramedic services, children's aid societies and associated local agencies, boards and commissions.

OMERS members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario.

OMERS is one of Canada's top eight pension funds, nicknamed the " Maple 8" or "Maple Revolutionaries."

Organization

OMERS is governed by the ''Ontario Municipal Employee's Retirement Act, 2006'', an Ontario law which superseded the older ''Ontario Municipal Employees Retirement System Act''. Members contribute 9% of their salary below the Year's Maximum Pensionable Earnings (YMPE), and 14.6% on income over YMPE.

Under the 2006 law, OMERS is composed of two statutory corporations. In 2019, OMERS ventures launched a $315M European Venture fund, a fully owned subsidiary of OMERS Ventures led by Managing Partner Harry Briggs.

OMERS is a partner of the World Economic Forum.

Recent and current operations

In March 2017, OMERS acquired a stake in Kemble, the UK holding company of Thames Water. The deeply-indebted water business became embroiled in a financial crisis from 2023, and in May 2024, OMERS, then Thames' biggest shareholder, issued a "full writedown" of its 31.7% stake in Kemble, signalling the shares were now worth nothing.

In November 2023, OMERS announced the acquisition of a 5% indirect stake in Maple Leaf Sports & Entertainment (MLSE), the parent company of the Toronto Maple Leafs and the Toronto Raptors, for $400 million. The stake was purchased through a 20% direct investment in Kilmer Sports Inc (KSI), which is owned by MLSE Chairman Larry Tanenbaum. After the transaction, Tanenbaum will continue as chairman, holding an 80% stake in KSI, while OMERS will function purely as a financial investor without involvement in the operational decisions of MLSE or its teams.

25% of OMERS' investments are in Canada. Its largest investment is in Bruce Power.

The real estate portfolio includes Kingsway Mall and Southcentre Mall in Alberta; Hillcrest Mall, Scarborough Town Centre, Square One Shopping Centre, Upper Canada Mall, and Yorkdale Shopping Centre in Ontario; and, Les Galeries de la Capitale in Quebec. OMERS has over 6,000 residential rental units in Vancouver, the Greater Toronto Area, and Montreal; 15 million square feet of office space in Vancouver, Toronto and Calgary; and, is invested in hotels across Canada.

In July 2024, Bloomberg News reported some Canadian pension funds were moving away from commercial real estate following recent challenges. Although OMERS was one of the funds that reported a loss in this portfolio, the CEO of OMERS announced they would continue with their strategy.

OMERS began investing in electric vehicle battery developer and manufacturer, Northvolt, in 2021. A loss on its almost $450 million investment after Northvolt's bankruptcy, was reported by the '' Globe and Mail'' in November 2024.https://financialpost.com/news/omers-us325-million-northvolt-investment

See also

* Pension fund
* Caisse de dépôt et placement du Québec
* CPP Investment Board
* Ontario Teachers' Pension Plan
* Public Sector Pension Investment Board
* Alberta Investment Management Corporation
* OPTrust

References

Sources

Profile of OMERS Corporation
Bloomberg. 14:18, 15 November 2021 (UTC)

External links

* https://www.omers.com/

{{Private equity and venture capital

1962 establishments in Ontario

Economy of Ontario
Investment companies of Canada
Local government in Ontario
Organizations based in Toronto
Organizations established in 1962
Private equity firms of Canada
Public pension funds in Canada