The Ontario Municipal Employees’ Retirement System (OMERS) has appointed Michael Ryder to serve as senior managing director and head of the Americas at OMERS Infrastructure Management Inc. He replaces Sebastien Sherman (spent 14 years with OMERS Infrastructure – Borealis Infrastructure), who is now senior managing director at Blackstone Group’s infrastructure division in New York covering the utilities, renewable energy, and transportation sectors after more than 14 years at the C$ 85.2 billion (US$ 67.9 billion) pension fund.
Prior to joining OMERS, Ryder spent three years at Blackstone Energy Partners L.P. – Blackstone’s energy-focused private equity arm – where he specialized in business development in the midstream and offshore drilling industries. Before Blackstone, Ryder spent 14 years at Morgan Stanley in a number of senior positions in its investment banking and private equity units leading investments in the energy, chemicals, and industrials sectors. He will lead OMERS’ infrastructure investments for the Americas from its satellite office in New York.
Fresh Start for OMERS Infrastructure
Formerly known as Borealis Infrastructure up until last summer, the newly-rebranded OMERS Infrastructure held C$ 14.7 billion (US$ 11.7 billion) worth of infrastructure assets concentrated in the North America and Europe that provided net returns of 11% in 2016, compared to its benchmark of 10%. OMERS Infrastructure is a division of the Canadian pension fund’s C$ 39 billion (US$ 31.1 billion) Private Markets group.
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New York-based Infor is an enterprise cloud software company. Infor raised US$ 1.5 billion from existing shareholders, Golden Gate Capital and Koch Equity Development LLC. Koch Equity Development is the investment and acquisition subsidiary of Koch Industries, Inc. Infor has 17,300 employees. At fiscal year 2018, Infor claims it generated over US$ 3 billion in revenue. Infor states that over 72% of all hospitals in the United States run Infor applications. Infor could be heading toward an initial public offering (IPO) or possibly be acquired by a company like Oracle Corporation or Salesforce. Charles E. Phillips is the CEO of Infor and before heading it was Co-President of Oracle from 2003 to 2010.
On February 21, 2017, Koch Equity Development invested US$ 2 billion into Infor. Koch Industries was a customer of Infor before it became an investor in the company. Golden Gate Capital made its first investment in Infor in 2002.
Matt Flamini is the President of Koch Equity Development. Jim Hannan is Koch Executive Vice President and CEO of Enterprises for Koch Industries, Inc.
Australia’s Scott Morrison government may soon allow the country’s Future Fund to offer low-fee superannuation accounts. Aware of the proposal, Prime Minister Morrison stressed that offering Australia a low-fee, government-managed superannuation fund as a default option is not government policy.
However, many proponents of this model believe it would create competition in the country’s US$ 2.7 trillion dollar retirement system. The Future Fund Chairman, Peter Costello, and economist Nicholas Gruen, CEO of Lateral Economics, put forth the idea, and it is quickly gaining support. This comes in the wake of Australians learning that they were losing US$ 3.8 billion annually in high-fee, underperforming accounts, and many were mistakenly being charged fees with no accompanying service provided. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
In a boost for Gulf-based debt, JPMorgan is adding their debt compositions to two influential emerging market bond indexes. These emerging market indexes are the most widely tracked among asset managers in the industry. Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, and Qatar are being added to the J.P. Morgan EMBI Global Diversified Index and the EMBI Global, starting January 31, 2019. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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