$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.
Michael Nobrega, President & Chief Executive Officer at OMERS since 2007, will retire from this position on March 31, 2014 and will be succeeded by Michael Latimer, currently OMERS Chief Investment Officer.
The news is finally out about the latest Shopify financing round, and it speaks to the reality that with money comes momentum. Momentum for the company. Momentum for the ecosystem.
Manager, Communications - Investments