Return to search

AIMCo buys OMERS’ $520 mln mortgage portfolio

Alberta Investment Management Corp (AIMCo) has acquired the mortgage portfolio of the Ontario Municipal Employees Retirement System (OMERS). The portfolio, which consists of 50 geographically dispersed Canadian mortgages, is valued at $520.3 million. The Edmonton, Alberta-based AIMCo, which manages more than $80 billion in assets, said the acquisition fits well with its existing holdings secured by institutional quality, income producing properties.

PRESS RELEASE

AIMCo Acquires OMERS Mortgage Portfolio

EDMONTON, Aug. 15, 2014 /CNW/ – Alberta Investment Management Corporation (“AIMCo”) is pleased to announce that it has acquired, on behalf of its clients, a $520.3 million mortgage portfolio of the Ontario Municipal Employees Retirement System (“OMERS”).

With $3 billion in loans, AIMCo is one of Canada’s leading mortgage lenders. The asset class is an important fixed income risk diversifier for its clients. The acquisition of fifty high-quality, geographically dispersed Canadian mortgages fits well with AIMCo’s existing holdings secured by institutional quality, income producing properties. Most of AIMCo’s current loans are Canadian, although a number of attractive transactions were recently sourced in the United States and Europe.

About Alberta Investment Management Corporation

AIMCo is one of Canada’s largest and most globally diversified institutional investment managers with assets under management of more than $80 billion. AIMCo was established in 2008 to invest for superior long-term investment results for its 27 pension, endowment and government clients in Alberta, including the Alberta Heritage Savings Trust Fund. For more information about AIMCo, visit www.aimco.alberta.ca.

About OMERS

OMERS is one of Canada’s largest pension funds with over $65 billion in net assets. It provides first-class pension administration and innovative products and services to almost 440,000 members. Almost one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, our team of investment professionals uses a direct drive, active management investment strategy to invest in public and private market assets, including publicly-traded equities, fixed-income, infrastructure, private equity and real estate. For more information, please visit www.omers.com, or www.omersworldwide.com.

SOURCE Alberta Investment Management Corp.

For further information:

Media Contacts:

AIMCo
Dénes Németh
Manager, Corporate Communication
+1 (780) 392.3857
denes.nemeth@aimco.alberta.ca
www.aimco.alberta.ca

OMERS
Neil Hrab
Manager, Public Relations
+1 (416) 369.2418
nhrab@omers.com
www.omers.com

Photo courtesy of Shutterstock