CANADA - The CAN$52bn Ontario Municipal Employees' Retirement System (OMERS) has confirmed it has taken a stake in Texan electricity company Oncor.
The group has acquired slightly under a fifth of the company (19.75%) for US$1.254bn.
Michael Rolland, president & CEO of Borealis Infrastructure, commented: "Borealis Infrastructure continues to seek and invest in high quality domestic and global infrastructure assets, in furtherance of OMERS long-term goal of investing 42.5% of net investment assets in private markets on a global basis.
"By leveraging the financial resources of the OMERS pension plan, with the active asset management expertise and discipline of the infrastructure team at Borealis, we are able to partner with like-minded investors such as GIC to participate in deals such as this."
The deal was first mooted in August, with Texan firm Hunt Strategic Utility Investment taking an indirect 0.1975% stake in the company, through the investment group (www.globalpensions.com; 14 August 2008).
OMERS has been active in the private investment sphere over the past few months, with the opening of a specialist London office dedicated to real estate, infrastructure, private equity and capital market investments (www.globalpensions.com; 15 October 2008) and recently acquiring analytical laboratory services network Maxxam Analytics International (www.globalpensions.com; 12 September 2008).
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