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AIMCo Buys Mortgage Portfolio from OMERS

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The Alberta Investment Management Corporation (AIMCo) has acquired a mortgage portfolio from the Ontario Municipal Employees’ Retirement System (OMERS). The transaction value was C$ 520 million (US$ 477 million). Most of the 50 mortgages were in high-quality and geographically scattered Canadian mortgages. OMERS has C$ 1.127 billion in mortgage investments.

AIMCo has US$ 3 billion in loans, mostly Canadian mortgage investments.

Among other funds, AIMCo manages Alberta’s Heritage Fund.

OMERS has more than US$ 65 billion in net assets and provides pension pension administration and products and services to approximately 440,000 members in the Canadian province of Ontario.

Colony Capital Picks Up LATAM Unit of Abraaj Group

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After negotiations, Tom Barrack’s Colony Capital agreed to purchase The Abraaj Group’s private equity platform in Latin America. The Latin American unit of Abraaj has around US$ 500 million in assets under management. The unit will be renamed to Colony Latam Partners, which will continue its focus on middle-market investments in Chile, Mexico, Colombia, and Peru.

Deloitte and PricewaterhouseCoopers (PwC) assisted in the transaction.

According to the press release, unit partners Miguel Angel Olea Sisniega, Hector Martinez Fry, Gerardo Mendoza Llanes, and Eduardo Cortina Murrieta will continue to lead the business.

Abraaj Group remains under a court supervised restructuring effort in the Cayman Islands.

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Henry Jones Named Board President at CalPERS

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The California Public Employees Retirement System (CalPERS) posted a -3.9% for the calendar year ended December 31, 2018. At this point, CalPERS is approximately 65% to 66% funded.

In addition, CalPERS is current searching for a permanent private equity director. CalPERS is still deciding on whether to change its approach to private equity investing by forming outside entities to make investments.

Last, the board of CalPERS named Henry Jones as board president.

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LAPFF Explores Direct Real Estate Investing

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The Los Angeles Fire and Police Pensions (LAFPP), a smaller pension compared to its larger peers such as the Los Angeles County Employees Retirement Association, is considering forming a direct real estate investment strategy that would be managed internally. LAPFF staff requested the pension’s real estate consultant The Townsend Group to explore the feasibility of creating an in-house real estate managed portfolio.

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