Ontario Municipal Employees' Retirement System, Toronto, on Aug. 30 announced its Borealis Infrastructure subsidiary will be renamed OMERS Infrastructure Management, effective immediately.
The name was changed to make the affiliation of the infrastructure business to Ontario Municipal more recognizable, Michael Rolland, chief investment officer of OMERS Private Markets, which oversees the unit, said in a news release.
The subsidiary managed 17% of the pension fund's C$85.2 billion ($63.3 billion) in assets as of Dec. 31 through its Toronto headquarters, as well as offices in New York, London, Amsterdam and Sydney, according to OMERS' website.
OMERS Infrastructure Management makes direct and partnership infrastructure investments, including the March co-investment with the $592 billion Kuwait Investment Authority for a 26% stake in the holding company of Thames Water Utilities. The unit also holds stakes in London City Airport, the Chicago Skyway toll road and the Detroit-Windsor Tunnel.
