OMERS, one of Canada's largest pension plans, through its strategic investment arm OMERS Strategic Investments (OSI), has entered into a co-investment agreement with Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund, and the Development Bank of Japan (DBJ). The co-investment agreement sets out a framework under which GPIF and DBJ may participate in a range of investment opportunities that are sourced and actively managed by OMERS through its various investment arms.
"We are honoured and pleased to be partnering with GPIF and DBJ in the pursuit of high-quality investments under a jointly developed program which recognizes OMERS direct drive, active investment management expertise. We value this strategic relationship as we continue to build trusted partnerships and extend our reach to attract investment opportunities globally," said Jacques Demers, President and CEO of OMERS Strategic Investments.
The first direct outcome of the co-investment agreement is the participation by GPIF and DBJ, at a capital commitment of USD $2.5 billion, in the Global Strategic Investment Alliance (GSIA). The GSIA is a co-investment program developed by OMERS that deploys the expertise of OMERS infrastructure investment arm, Borealis Infrastructure, for the benefit of OMERS and its GSIA co-investment partners. The participation by GPIF and DBJ brings the total capital committed to the GSIA to USD $11.25 billion.
"The participation in the GSIA by GPIF and DBJ, alongside our other GSIA members including the Pension Fund Association of Japan and a consortium led by Mitsubishi Corporation provides a strong endorsement of both OMERS strategy of developing third-party capital relationships with like-minded institutional investors as well as the investing strength of our infrastructure arm, Borealis Infrastructure," said George Cooke, Chair of the Board of Directors of OMERS Administration Corporation.