OMERS completes Oncor deal

TORONTO, ONTARIO - The $52 billion Ontario Municipal EmployeesÂ’ Retirement System (OMERS) has confirmed it has taken a stake in Texan electricity company Oncor.

The deal was structured through the pension fundÂ’s investment brand OMERS Worldwide and infrastructure subsidiary Borealis Investment, in association with the Singaporean sovereign wealth fund Government of Singapore Investment Corporation (GIC).

The group has acquired slightly under a fifth of the company (19.75%) for [US]$1.25 billion.

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."

Related News

Sub-Saharan-Electricity

Sub-Saharan Africa has a huge electricity problem - but with challenge comes opportunity

PORTO NOVO - Sub-Saharan Africa has an electricity problem. While the world as a whole has made great strides when it comes to providing access to electricity (the world average is now 90 per cent with access, up from 83 per cent in 2010), southern and western African states still lag far behind.

According to Tracking SDG7: The Energy Progress Report, produced by a consortium of organisations including the World Bank, the International Energy Agency and the World Health Organization, 759 million people were without electricity in 2019 and threequarters of them were based in sub-Saharan Africa. At just seven per…

READ MORE
ehrc logo

More young Canadians would work in electricity… if they knew about it

READ MORE

uk-energy-transition-stalled-by-supply-delays

UK's Energy Transition Stalled by Supply Delays

READ MORE

Sudbury, Ont., eco groups say sustainability is key to grid's future

READ MORE

powerlines

DOE Announces $34 Million to Improve America?s Power Grid

READ MORE