TORONTO (October 26, 2011)- OMERS, one of Canada’s largest pension funds with $53 billion in net assets, is expanding its global reach through the official opening of an office in New York City.
The office at 320 Park Avenue has been established under the OMERS Worldwide brand, and will include a 30-member team of investment professionals specializing in real estate, infrastructure, private equity and capital markets.
The new office marks a significant expansion of both OMERS Worldwide’s New York office space and its investment team, which started with seven employees in 2009. This move is in line with direction from the OMERS Board that an expanded presence in New York is essential to access key private market investments in the U.S.
“This office will advance our strategic growth plans across all asset classes,” said Michael Nobrega, OMERS President and CEO. “The opening of this office underscores our commitment to expand in those regions where we invest and where we have developed strategic relationships.”
OMERS has $10 billion invested in the United States, in both public and private markets. As well as holdings in U.S. public companies, significant private investments include Oncor (electricity transmission), U.S. Infrastructure Corp., and a joint venture with Related Properties for the 12 million square foot Hudson Yards redevelopment project.
“I can’t think of a bigger statement about our commitment to the New York market than the Hudson Yards project,” said Blake Hutcheson, President and CEO of Oxford Properties, the real estate investment arm of the OMERS Worldwide group of companies.
The New York office is the second office opened under the OMERS Worldwide banner outside of Canada, following the launch of a London U.K. office in 2008. OMERS Worldwide offices are also located in Toronto and Calgary.