OMERS Launches Giant Infrastructure Fund?
Greg Roumeliotis of the Globe and Mail reports, OMERS, Japanese partners launch infrastructure fund : One of Canada’s largest pension plans teamed up on Thursday with Japan’s pension funds and some of its major conglomerates to help raise $20-billion (U.S.) for the world’s largest infrastructure fund to invest in assets such as roads and airports. While a handful of the world’s biggest pension funds have the capacity to lead their own investments in infrastructure assets, the initiative represents an unprecedented effort to cut out asset managers as middle men in infrastructure investment. Ontario Municipal Employees Retirement System (OMERS) said on Thursday it, along with Japan’s Pension Fund Association and a consortium led by Mitsubishi Corp., Japan’s largest trading house, had committed a total of $7.5-billion toward the new fund. Infrastructure funds have traditionally been sponsored by investment banks, private equity firms and independent asset managers. If successf