Investment Committee – December 5, 2019
Acquisition of an Interest in RiverStone UK
OMERS Capital Markets sought the Investment Committee’s approval to acquire an interest in Fairfax’s UK run-off insurance group, RiverStone UK. Riverstone holds non-life run-off insurance portfolios.
Following questions and discussion, the Investment Committee approved the acquisition.
In a press release issued on December 20, 2019, Fairfax Financial Holdings Limited announced that they entered into an agreement pursuant to which OMERS will acquire a 40% interest in RiverStone UK.
The transaction is expected to close in the first quarter of 2020 and remains subject to regulatory approval.
The Investment Committee also considered several additional pending investment transactions; however, due to legal and contractual reasons, the decisions are required to be kept confidential.