OMERS completes Oncor deal
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
New bill would close loophole that left hundreds of Kentucky miners with cold checks
HARLAN, KY - Following the high-profile bankruptcy of a coal company that left hundreds of Kentucky miners with bad checks last month, Sen. Johnny Ray Turner (D-Prestonsburg) said he will pre-file a bill Thursday aimed at closing a loophole that allowed the company to operate in violation of state law.
The bill would also compel state agencies to determine whether other companies are currently in violation of the law, and could revoke mining permits if the companies don't comply.
Turner's bill would amend an already-existing law that requires coal and construction companies that have been operating in Kentucky for less than five…
