OMERS, one of Canada's largest pension plans, through its strategic investment arm OMERS Strategic Investments (OSI), has entered into a co-investment agreement with Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund, and the Development Bank of Japan (DBJ). The co-investment agreement sets out a framework under which GPIF and DBJ may participate in a range of investment opportunities that are sourced and actively managed by OMERS through its various investment arms.
Funds in an AVC account earn the OMERS Fund rate of return, less investment management expenses. For 2013 this is 6.53% less 0.53 % which equals 6.0%.
$4 billion investment income earned in 2013
The OMERS Primary Pension Plan concluded 2013 with a $1.3 billion reduction in unfunded liability, an improvement in its funded ratio by 3% to 88%, $4 billion in total investment income, and a stronger balance sheet and cash flows to secure its long-term obligation to pay defined pension benefits to its 440,000 plan members.
Borealis Infrastructure announced today it has signed definitive agreements with Cameco Corporation ("Cameco") to acquire up to a 31.6% interest in Bruce Power B ("Bruce B") for $450 million. Bruce B operates four of the eight reactors at the world's largest nuclear generating facility in Tiverton, Ontario.
OMERS Private Equity ("OPE"), the private equity investment arm of OMERS, has entered into an agreement to sell Maxxam Analytics International Corporation (together with its affiliates, "Maxxam" or the "Company") to France-based public company Bureau Veritas SA ("Bureau Veritas") for an enterprise value of CAD$650 million. The transaction is expected to close in the first quarter of 2014, subject to satisfaction of customary closing conditions.
Manager, Communications - Investments