Alberta Investment Management Corp., Edmonton, acquired a C$520 million (US$477 million) mortgage portfolio from the C$65.1 billion Ontario Municipal Employees’ Retirement System, Toronto.
Terms were not disclosed, said Denes Nemeth, AIMCo spokesman.
According to OMERS’ website, the pension fund had C$1.127 billion in mortgage investments; the AIMCo sale would cut that by just less than half. Neil Hrab, spokesman for OMERS, could not be reached by press time for comment or further details.
AIMCo, which oversees C$74 billion in Alberta pension, endowment and other governmental assets, now has C$3 billion in mostly Canadian mortgage investments.
