CANADA/UK - The private equity arm of the Ontario Municipal Employees Retirement System (OMERS) has appointed Mark Redman as senior managing director for Europe.
Redman will be responsible for Omers Private Equity's (OPE) direct investment strategy across Europe, and will build the investment team in sourcing, executing, and post-acquisition management of direct private equity transactions.
Prior to this, Redman worked at FTSE-100 company 3i for 12 years in the London and Amsterdam offices, during which time he also occupied the role of buyout partner. This role entailed a number of mid-market buyout investments across Europe, including UTT, Hyva and ABX.
Redman was also responsible for establishing the 3i's Benelux market position, which involved the development of a new local team.
OPE president and chief executive officer Paul Renaud said: "OPE has built a sizeable and successful direct investment business in Canada and is in the process of doing the same in the United States and in Europe."
He added that Redman's transactional experience across both the UK and continental Europe will be fundamental in building OPE into a successful investor in European private equity.
OPE manages Omers' private equity activities and has US$4bn of investments under management. OPE's investment strategy involves the active ownership of businesses in North America and Europe, and targets individual investments in the range of $100m to $500m.
Omers has over $43bn in assets and claims to be one of Canada's largest pension funds. The pension fund also owns Oxford Properties Group, which recently leased offices in London to Nomura with a six-year rent holiday. (Global Pensions: September 1, 2009)
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