April 26, 2012 - OMERS, one of Canada's largest pension plans, is announcing the first close of the Global Strategic Investment Alliance (GSIA) alongside initial alliance members Pension Fund Association (PFA) and a consortium led by Mitsubishi Corporation (MC), both of Japan.
"We're very pleased to be partnering with these sophisticated investors in pursuit of high-quality, large infrastructure investments that we can own over the long term. Based upon the feedback in the market, we anticipate welcoming a number of other forward-thinking pension plans and other long-term institutional investors from around the world into the GSIA over the next 12 to 18 months thereby bringing significant additional (ie. billion dollar plus) commitments to the program," said Jacques Demers, President and CEO of OMERS Strategic Investments.
Initial commitments following first close equal US$7.5 billion, including US$1.25 billion from each of PFA, and MC-led Japan Infrastructure Investment Partners LP, and US$5 billion from OMERS.
The GSIA's goal is for like-minded, long-term institutional investors in North America, Europe, Asia-Pacific and the Middle East to work together in pursuit of attractive, large-scale infrastructure investment assets mainly in North America and Western Europe.
This innovative "ground-breaking" initiative is led for OMERS by OMERS Strategic Investments, which builds investment platforms and develops direct relationships globally in support of the investment activities of the pension plan.
All GSIA investments will be originated and managed by OMERS' infrastructure investment arm, Borealis Infrastructure, which is a leading global full service infrastructure investment management company. Administrative support services to the investment program will be provided by Rosewater Global, an OMERS affiliate.
OMERS is one of Canada's largest pension funds with over $55.1 billion in net assets. It provides first-class pension administration and innovative products and services to almost 420,000 members. Approximately one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, our team of investment professionals uses a direct drive, active management investment strategy to invest in public and private market assets, including publicly-traded equities, fixed-income, infrastructure, private equity and real estate. For more information, please visit www.omers.com, or www.omersworldwide.com.