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OMERS to Open a Singapore Office

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The Ontario Municipal Employees’ Retirement System (OMERS) is joining its sovereign wealth fund and Canadian pension peers in opening a Singapore office. The Singapore office will open in January 2018. The Singapore office post for OMERS was created as part of a multi-year strategy being carried out by the Canadian giant to identify promising investment opportunities in emerging markets, particularly in Asia.

OMERS will staff investment experts in Singapore, as the office will compliment the pension giant’s other office in Sydney, Australia. The Singapore office for OMERS will be located at One Raffles Quay.

“OMERS is proud to establish a presence in Singapore, which is recognized internationally as a major financial hub,” said Michael Latimer, President and CEO of OMERS. “We appreciate the many distinct advantages Singapore offers, including the deep expertise of its financial services community, ease of doing business, world-class infrastructure, and connectivity to the rest of Asia,” he added.

Johnson Controls Sells Battery Unit to Brookfield and CDPQ

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Brookfield Business Partners L.P. and Caisse de dépôt et placement du Québec (CDPQ), announced that they have reached an agreement whereby Brookfield and CDPQ will acquire 100% of Johnson Controls’ Power Solutions business for in a cash valued transaction valued at approximately US$ 13.2 billion. Brookfield Business Partners is the flagship listed business services and industrials company of Brookfield Asset Management Inc. Closing of the transaction remains subject to customary closing conditions including regulatory approvals. Closing is expected to occur by June 30, 2019. The seller is Johnson Controls International plc. The unit employees roughly 15,000 people.

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MAS Seeks to Commit $5 Billion to Private Equity and Infrastructure Managers

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From U.S. pension funds to asset-heavy sovereign wealth funds, Singapore is calculating that more institutional investor assets globally are being committed to the Asia region. The Monetary Authority of Singapore (MAS), Singapore’s central bank, signaled and planned to commit US$ 5 billion with locally-based fund managers who will invest in private enterprises and infrastructure projects. The beneficiaries of the mandates will be private equity and infrastructure fund managers. MAS is seeking to lure top global asset managers to Singapore and firms that have a significant footprint in Singapore could be eligible for the funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ivanhoe Cambridge Acquires Cap Ampere Campus from Natixis

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In one of the largest transactions in the French office sector, Ivanhoé Cambridge, real estate subsidiary of Caisse de dépôt et placement du Québec (CDPQ), has acquired a 90,000 square meter office-building campus from Natixis, in the Greater Paris area of Saint-Denis Pleyel. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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