CANADA/UK - The Ontario Municipal Employees Retirement System (OMERS) has established an office in London, in a quest to accelerate its expansion into private market investments and to pursue a global presence.
Michael Nobrega, president and CEO, said: "We are weathering the current market crisis largely because we were an early believer in shifting large amounts of capital from public to private markets.
"Our substantial private market assets have gone a long way toward partially offsetting the volatility and negative performance of public securities," he added.
OMERS said it would open offices in other global regions, as relationships were formed and new investment opportunities were discovered.
Nobrega explained: "We want access to large-scale opportunities and co-investment capital around the world. Locating in London expedites the process and enables us to dip into the local talent pool for professionals with global vision."
OMERS has four investment arms under the OMERS Worldwide banner: Oxford Properties Group; Borealis Infrastructure; OMERS Private Equity and OMERS Capital Markets.
OMERS provides retirement benefits to 380,000 members on behalf of over 900 different employers in the Canadian province of Ontario.
The fund ended 2007 with net investment assets of C$52bn (US$44.6bn).
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