The new head of Ontario Municipal Employment Retirement System is feeling pretty confident about the pension fund’s ability to find pockets of value this year.
“The Canadian pension plans are the envy of the world in so many ways,” Blake Hutcheson said in an interview. “It’s been made OK to own platforms and buy and scale companies, giving us tremendous competitive advantage. It’s been made OK to put teams together and pay them properly to compete with the best of the best,” he said.
Mr. Hutcheson takes over as CEO of the C$110 billion ($84 billion) fund in June, succeeding Michael Latimer when he retires. OMERS plans to grow to C$200 billion of assets under management over the next seven to 10 years, he said.
It currently has 45% of its portfolio invested in the U.S., 30% in Canada, 20% in Europe and 5% in Asia. As it increases its assets under management, it will grow at a slightly slower pace in America and its biggest pivot will be India and pockets of Asia, he said