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{{more citations needed|date=November 2012}}
{{Infobox company
| name = Ontario Municipal Employees Retirement System
| logo =
| logo_size = 200px
| trade_name = OMERS
| type = [[Statutory corporation]]<ref name="cavalluzzo"/>
| industry = [[Pension fund]]
| successor =
| foundation = {{Start date and age|1962}}
| location = [[EY Tower]]<br>900-100 Adelaide Street West<br> [[Toronto]], Ontario<br>M5H 0E2
| area_served = Participating employers and employees in Ontario, Canada
| key_people = [[Blake Hutcheson]] (CEO)<br />[https://www.omers.com/george-cooke George Cooke] (Board chair, Administration Corporation)<br />[https://www.omers.com/michael-rolland Michael Rolland] (CEO, Sponsors Corporation)<br />[https://www.omers.com/sc-board-of-directors Frank Ramagnano] (Board chair, Sponsors Corporation)
| revenue =
| operating_income =
| net_income = OMERS funded status on a smoothed basis was 97% in 2020, unchanged from the prior year.2023
| assets = [[Canadian dollar|C$]]105128.6 billion (20202023)<ref name="omers-home"/> ▼
 
| owner = The participating employers and employees of the OMERS pension plans ▼
▲| assets = [[Canadian dollar|C$]]105 billion (2020)<ref name="omers-home"/>
| num_employees = estimated 1000▼
| equity =
| parent = OMERS Administration Corporation Board of Directors▼
▲| owner = The participating employers and employees of the OMERS pension plans
| divisions = OMERS Infrastructure<br />OMERS Capital Markets<br />OMERS Private Equity<br />[[Oxford Properties]]▼
▲| num_employees = estimated 1000
| homepage = {{URL|https://omers.com}}▼
▲| parent = OMERS Administration Corporation Board of Directors
| footnotes = ▼
▲| divisions = OMERS Infrastructure<br />OMERS Capital Markets<br />OMERS Private Equity<br />[[Oxford Properties]]
| intl = ▼
▲| homepage = {{URL|https://omers.com}}
▲| footnotes =
▲| intl =
}}
'''OMERS''' is a Canadian public pension fund, headquartered in Toronto, Ontario. OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by [[Ontario]] provincial [[statute]] to administer retirement benefits and manage pension investment funds of local government employees in the [[Provinces and territories of Canada|Canadian province]] of Ontario. "OMERS" stands for theThe '''Ontario Municipal Employees Retirement System'''.<ref>{{cite web|url = https://www.omers.com/about-omers
|title = About OMERS
|publisher = OMERS
|access-date = 2020-09-17
}}</ref> ('''OMERS''') is a Canadian public [[pension fund]], headquartered in Toronto, Ontario. OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by [[Ontario]] provincial [[statute]] to administer retirement benefits and manage pension investment funds of local government employees in the [[Provinces and territories of Canada|Canadian province]] of Ontario. {{As of|2022|12|31|df=US}}, OMERS had [[Canadian dollar|C$]]124 billion of assets under management.<ref name="omers-home">{{cite web |date=2023-02-24 |title=OMERS reports 2022 results |url=https://downloads.ctfassets.net/iifcbkds7nke/5IN3tjT6LwBYsEL8tCqbAM/f6b7ed10a020e71f11f83269b0c4da66/OMERS_2022_Annual_Report.pdf |access-date=2021-02-24 |publisher=OMERS}}</ref> OMERS serves over 1,000 participating employers and more than half a million active, deferred and retired employees. OMERS members are employed by municipalities, school boards, transit systems, local electrical distribution companies, police service boards, fire fighting and paramedic services, children's aid societies and associated local agencies, boards and commissions.<ref name="about">{{cite web
}}</ref> {{As of|2021|12|31|df=US}}, OMERS had [[Canadian dollar|C$]]121 billion of assets under management.<ref name="omers-home">{{cite web
| url = https://www.omers.com/news/omers-reports-2020-financial-results-paying-pensions-over-decades-means-a-long-term-approach
| title = OMERS reports 2020 results
| publisher = OMERS
| date = 2021-02-24
| access-date = 2021-02-24
}}</ref> OMERS serves over 1,000 participating employers and more than half a million active, deferred and retired employees. OMERS members are employed by municipalities, school boards, transit systems, local electrical distribution companies, police service boards, fire fighting and paramedic services, children's aid societies and associated local agencies, boards and commissions.<ref name="about">{{cite web
|url = https://www.omers.com/about-omers
|title = About OMERS
Line 44 ⟶ 36:
|access-date = 2020-09-17
}}</ref>
==Structure==
OMERS is governed by the ''Ontario Municipal Employees Retirement Act, 2006'', an Ontario law which superseded the older ''Ontario Municipal Employees Retirement System Act''.▼
 
In 2010, this fund assumed the pensions of firefighters, police officers, emergency physicians, employees of the Children's Aid Society, school employees other than teachers, public transport employees and Ontario Hydro employees.<ref>{{Cite web |title=Page Not Found |url=https://www.omers.com/page-not-found |access-date=2022-08-05 |website=www.omers.com |language=en-CA}}</ref>
Under the 2006 law, OMERS is composed of two [[statutory corporation]]s:<ref name="cavalluzzo">{{cite web |url=https://www.cavalluzzo.com/docs/default-source/cases/2008-canlii-3970-omers-sponsors-corporation-v-omers-administration-corporation---amanda-darrach.pdf?sfvrsn=27c555d5_2 |title=Omers Administration Corporation |work=cavalluzzo.com |access-date=2020-11-13}}</ref>▼
 
== Organization ==
▲OMERS is governed by the ''Ontario Municipal EmployeesEmployee's Retirement Act, 2006'', an Ontario law which superseded the older ''Ontario Municipal Employees Retirement System Act''.
 
▲Under the 2006 law, OMERS is composed of two [[statutory corporation]]s:.<ref name="cavalluzzo">{{cite web |url=https://www.cavalluzzo.com/docs/default-source/cases/2008-canlii-3970-omers-sponsors-corporation-v-omers-administration-corporation---amanda-darrach.pdf?sfvrsn=27c555d5_2 |title=Omers Administration Corporation |work=cavalluzzo.com |access-date=2020-11-13}}</ref> In 2019, OMERS ventures launched a $315M European Venture fund, a fully owned subsidiary of OMERS Ventures led by Managing Partner Harry Briggs.<ref>{{Cite web|url=https://techcrunch.com/2019/03/25/omers-ventures-europe/|title=Omers Ventures outs €300M European fund — Q&A with Managing Partner Harry Briggs|website=TechCrunch|date=25 March 2019 |language=en-US|access-date=2020-02-06}}</ref>
 
OMERS is a partner of the [[World Economic Forum]].<ref>{{Cite web |title=OMERS |url=https://www.weforum.org/organizations/omers/ |url-status=live |archive-url=https://web.archive.org/web/20221106031851/https://www.weforum.org/organizations/omers |archive-date=2022-11-06 |access-date=2022-11-06 |website=[[World Economic Forum]] |language=en}}</ref>
 
== Recent and current operations ==
===OMERS Private Equity===
In March 2017, OMERS acquired a stake in Kemble, the UK holding company of [[Thames Water]].<ref>{{cite news|last1=Ambrose|first1=Jillian|title=Macquarie sells off final stake in Thames Water|url=https://www.telegraph.co.uk/business/2017/03/14/macquarie-sells-final-stake-thames-water/|access-date=15 March 2017|work=The Telegraph|date=14 March 2017}}</ref> The deeply-indebted water business became embroiled in a financial crisis from 2023, and in May 2024, OMERS, then Thames' biggest shareholder, issued a "full writedown" of its 31.7% stake in Kemble, signalling the shares were now worth nothing.<ref>{{cite news |last1=Ambrose |first1=Jillian |title=Thames Water’s biggest investor cuts value of its stake to zero |url=https://www.theguardian.com/business/article/2024/may/17/thames-water-investor-cuts-value-stake-zero-omers |access-date=21 May 2024 |work=Guardian |date=17 May 2024}}</ref>
 
In November 2023, OMERS announced the acquisition of a 5% indirect stake in [[Maple Leaf Sports & Entertainment]] (MLSE), the parent company of the [[Toronto Maple Leafs]] and the [[Toronto Raptors]], for $400 million. The stake was purchased through a 20% direct investment in Kilmer Sports Inc (KSI), which is owned by MLSE Chairman [[Larry Tanenbaum]]. After the transaction, Tanenbaum will continue as chairman, holding an 80% stake in KSI, while OMERS will function purely as a financial investor without involvement in the operational decisions of MLSE or its teams.<ref>{{Cite news |date=2023-11-06 |title=Canada's OMERS buys 5% indirect stake in Toronto Raptors-parent MLSE for $400 mln |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/canadas-omers-buys-5-indirect-stake-toronto-raptors-parent-mlse-400-mln-2023-11-06/ |access-date=2023-11-07}}</ref>
In 2019, OMERS ventures launched a $315M European Venture fund, a fully owned subsidiary of OMERS Ventures led by Managing Partner Harry Briggs.<ref>{{Cite web|url=http://social.techcrunch.com/2019/03/25/omers-ventures-europe/|title=Omers Ventures outs €300M European fund — Q&A with Managing Partner Harry Briggs|website=TechCrunch|language=en-US|access-date=2020-02-06}}</ref>
 
==See also==
Retrieved from "https://en.wikipedia.org/wiki/OMERS"