Canada’s Alberta Investment Management buys OMERS mortgage portfolio-Reuters

(Reuters) – Canada’s Alberta Investment Management Corp said on Friday it had acquired a C$520.3 million ($477 million) mortgage portfolio from the Ontario Municipal Employees Retirement System (OMERS).

AIMCO, one of Canada’s largest pension funds with over C$75 billion assets under management, including some C$3 billion in loans, is already a leading mortgage lender.

The acquisition of high-quality, geographically dispersed mortgages fits well with AIMCO’s existing holdings of income producing properties, said AIMCO in a statement.