OMERS, PSP Appoint New Executives in Infrastructure
The Ontario Municipal Employees Retirement System’s (OMERS) infrastructure arm has appointed Luca Lupo as senior managing director and head of Europe, effective immediately.
In his new role, Lupo will lead the regional team based in London and oversee regional origination activities and the platform’s management of its investments in Europe. He will report to Michael Hill, executive vice-president and global head of OMERS Infrastructure and join the Infrastructure Management Committee.
In a press release, Hill said Lupo has deep knowledge of European markets, the portfolio and is highly respected by the portfolio company’s management teams, advisers and investment partners.
“Europe is, and will remain, a core region for OMERS, and [Lupo’s] leadership will help position our platform for its next strategic phase.”
Lupo joined OMERS in 2022 as a managing director, leading investment efforts in transportation and community infrastructure in Europe, noted the release. It added that he has played an instrumental role as a member of the division’s leadership and made meaningful contributions to the portfolio, including originating Grandi Stazioni Retail (GSR), which marked OMERS’ entry into Italy, and played a key role in the platform’s capital rotation and asset management programs. Lupo currently serves on the boards of GSR and Associated British Ports.
“I’m delighted to take on this leadership role,” Lupo said in the release. “Europe is a core market for OMERS, within which we have built a strong and diversified infrastructure portfolio and are actively pursuing new opportunities across the energy, transport and digital sectors.”
Prior to his time at OMERS, Lupo was a managing director with Morgan Stanley on the transportation and infrastructure team in the Investment Banking department. During his career at Morgan Stanley and in his prior roles at Barclays and UBS, he advised on more than 30 completed transactions in multiple sectors across Europe, the Americas and Asia-Pacific.
OMERS Infrastructure manages infrastructure investments globally on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. As of Dec. 31, 2025, OMERS Infrastructure had C$40.9B under management, according to the pension fund’s latest annual report. Infrastructure comprised 22% of the total fund’s asset mix, delivering a positive return of 6.0%.
The OMERS Infrastructure portfolio, including capital invested on behalf of OMERS and third parties, consists of approximately 30 investments located in North America, Western Europe, India and Australia. Within the infrastructure portfolio, its asset mix includes 8% allotted to Europe, 7% to the U.S., 5% to Canada and 2% directed to Asia-Pacific and the rest of the world. The portfolio includes assets across sectors, including energy, digital and transportation.
On Friday, OMERS Infrastructure issued a press release stating Luca Lupo has been appointed leader of Europe:
OMERS Infrastructure today announced the appointment of Luca Lupo as Senior Managing Director, Head of Europe. He will report to Michael Hill, Executive Vice President & Global Head of OMERS Infrastructure, and join the Infrastructure Management Committee.
Since joining OMERS in 2022, Luca has been an integral member of the OMERS Infrastructure leadership and has made meaningful contributions to the portfolio, including originating Grandi Stazioni Retail (GSR), which marked OMERS entry into Italy, and playing a key role in the platform’s capital rotation and asset management programs. Luca currently serves on the boards of GSR and Associated British Ports.
Michael Hill, Executive Vice President and Global Head of OMERS Infrastructure, said: “Luca stood out as the absolute right choice for this role. He has deep knowledge of European markets, our portfolio, and is highly respected by our portfolio company management teams, advisers, and investment partners. Europe is, and will, remain a core region for OMERS, and Luca’s leadership will help position our platform for its next strategic phase.”
Effective immediately, Luca will lead the regional team based in London and will oversee regional origination activities and the platform’s management of its investments in Europe.
Luca Lupo said: “I’m delighted to take on this leadership role. Europe is a core market for OMERS within which we have built a strong and diversified infrastructure portfolio and are actively pursuing new opportunities across the energy, transport and digital sectors.”
Alright, very busy and absolutely insane Monday in markets, so I will keep this brief because my young one isn't feeling great (the joys of daycare!).
Luca Lupo will head up the European operations at OMERS Infrastructure, replacing Alastair Hall who left the organization.
Michael Hill made the right choice for this position given Luca Lupo's role originating Grandi Stazioni Retail (GSR) and playing other key roles managing the European platform.
As we have seen with this Iran crisis, Europe is in the midst of momentous change, their energy infrastructure remains vulnerable and they too want to take part in the AI revolution (which requires lots of energy).
What this tells me is there will be great opportunities in Europe for OMERS Infrastructure and Luca and his team will capitalize on these opportunities as they arise.
You can read more on OMERS Infrastructure by dowloading OMERS 2025 annual report here.
In other related infrastructure news, last month, Matt Toledo Chief Investment Officer reported Andrew Alley has been named the Global Head of Infrastructure at PSP Investments:
PSP Investments, the fund manager for Canada’s Public Sector Pension Fund, announced Thursday the appointment of Andrew Alley as managing director and global head of infrastructure investments, effective March 16.
Alley is currently managing director and head of infrastructure for North America and Australasia at the Canada Pension Plan Investment Board, where he has been since 2007.
“With a strong record of leading complex, multi‑regional portfolios, Andrew brings deep global experience to our organization,” the PSP Investments announcement stated.
Alley will succeed Sandiren Curthan in the role. Curthan will transition to PSP Investments’ London office in the summer as a managing director for infrastructure investments.
“These appointments reinforce our ability to execute our strategy across regions in a dynamic and competitive market environment,” PSP stated in its announcement.
PSP Investments manages C$32 billion ($23.4 billion) in infrastructure assets, as of March 31, 2025. PSP’s infrastructure platform returned 17.8% over the prior one-year period and posted a 13.8% annualized return over five years through March 31, 2025.
The fund’s infrastructure investments are well diversified geographically: 38% in Europe, followed by 22.6% in the U.S., 15.4% in Asia, 10.3% in Central and South America, 7.8% in Oceania and 5.8% in Canada.
PSP Investments managed C$299 billion in assets as of March 31, 2025.
The announcement was made public on LinkedIn here.
This is another big appointment worth noting because PSP has a sizable, well-diversified global infrastructure program and Andrew Alley has the experience to head it up and bring it to the next level.
He comes from CPP Investments, where he has been since 2007 and most recently headed up activities in North America and Australasia, so he knows the terrain well.
Undoubtedly, PSP's CEO Deb Orida knew him well from her days heading up Real Assets at CPP Investments, and has full confidence in his ability to drive value in that important portfolio.
So, let me wish Luca and Andrew a lot of success in their new roles, good luck, get to work, it's going to get very busy.
Below, Sankey Research President and Oliver Wyman Oil and Gas Adviser Paul Sankey discusses energy prices and the risks of a Strait of Hormuz disruption amid the Iran war with Bloomberg’s Julie Fine at CERAWeek in Houston.
Next, speaking with FRANCE 24's Monte Francis, Nicholas Mulder, Assistant Professor at Cornell University and author of “The Economic Weapon: The Rise Of Sanctions As A Tool Of Modern War”, explains that "the Trump administration is particularly sensitive to pressure from the markets" and that "Iran has begun to use the closure of the Strait of Hormuz as a form of economic pressure".
Third, Sky's military analyst Professor Michael Clarke explains why Iran's threats to the Gulf's water supply could spell disaster for the conflict.
Fourth, Tim Marshall, journalist and author of Prisoners of Geography, speaks to BBC Newsnight about why the US has found it so difficult to force the reopening of the Strait of Hormuz.
Lastly, CNN’s Fareed Zakaria examines Iran’s military response to US, Israeli airstrikes and says that it represents a new military architecture that is challenging the old model of military supremacy.
Zakaria also speaks with former head of the Iran branch of Israel’s military intelligence about likelihood of Iran pursuing a nuclear weapon as a result of the current conflict.
Comments
Post a Comment