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."
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“Giving people relief on their power bills lets them focus on the essentials, while helping businesses and encouraging critical industry to keep operating,” he said.
BC Hydro residential customers in the province who have been laid off due to the pandemic will see a credit for three times their average monthly bill and small businesses forced to close will have power bills forgiven for three months.
But a large region of the…
