SINGAPORE and TORONTO, Oct 25 (Bernama-GLOBE NEWSWIRE) -- OMERS,
the pension plan for municipal workers in the province of Ontario,
Canada, today announced that it will open an office in Singapore in
January 2018.
“OMERS is proud to establish a presence in
Singapore, which is recognized internationally as a major financial
hub,” said Michael Latimer, President and CEO of OMERS. “We appreciate
the many distinct advantages Singapore offers, including the deep
expertise of its financial services community, ease of doing business,
world-class infrastructure, and connectivity to the rest of Asia,” he
added.
Bringing the OMERS presence to Singapore is part of a
multi-year strategy being carried out by OMERS to identify promising
investment opportunities in emerging markets. At the end of 2016, the
geographic distribution of OMERS holdings saw 40% of its assets in
Canada, 37% in the US, 17% in Europe and 6% in other parts of the world.
“Our decision to locate in Singapore is consistent with our
overall effort to further diversify OMERS global investment holdings,”
said Michael Rolland, Chief Investment Officer, OMERS Private Markets,
appointed by OMERS to lead the development of the company’s presence in
Singapore. “Earlier this year, our OMERS Infrastructure team made its
first-ever direct investment in South America. Also in 2017, Oxford
Properties, OMERS real estate arm, became a co-investor in Berlin’s Sony
Center, marking its first investment in Germany. In 2016, OMERS
Infrastructure made its first major investment in Australia, in the Port
of Melbourne. This is in addition to ongoing global mergers and
acquisitions completed by various companies in OMERS Private Equity’s
portfolio.”
“Our engagement in Singapore begins with many strong
business and government relationships in the region,” said Mr. Latimer.
“The opening of the Singapore office demonstrates the potential we see
in the Asia-Pacific region, both from the perspective of making direct
investments and from cultivating new investment partners. It is the
logical next step in evolving our international footprint,” he said.
The
OMERS office in Singapore will be located at One Raffles Quay and
staffed by accomplished investment professionals representing the
organization’s deep expertise in capital markets, infrastructure,
private equity and real estate. Its work will complement the success of
the existing OMERS Infrastructure office located in Sydney, Australia.
About OMERS:
Founded
in 1962, OMERS is one of Canada’s largest defined benefit pension
plans, with more than $85 billion in net assets, as at December 31,
2016. OMERS invests and administers pensions for more than 470,000
members from municipalities, school boards, emergency services and local
agencies across Ontario. OMERS has employees in Toronto and other major
cities across North America, the U.K., Europe and Australia –
originating and managing a diversified portfolio of investments in
public markets, private equity, infrastructure and real estate. For more
information, please visit www.omers.com.
Contact:
Neil Hrab,
Manager, Communications – Investments
416-369-2418
nhrab@omers.com
SOURCE : Ontario Municipal Employees Retirement System
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