OMERS, the pension fund for Ontario municipal workers, has been beefing up in New York City, and the group is now close to staffing 30 people in its Park Avenue office.
A short while back, the U.S. division was comprised of only OMERS private equity and Oxford Properties, the fund’s real estate arm. Both shops were housed in separate temporary locations, employing 7 people in total.
Now they’ve come together in one location at 50th Street, and they’ve got new company. Borealis, the fund’s infrastructure arm, OMERS Capital Markets, the public market side of the business ,and OMERS Strategic Management have all set up shop in NYC. There are now 17 people in the office, and that number is supposed to grow to 30.
At this point, OMERS has $10-billion invested in the U.S., and one of those investments is a joint venture on the massive Hudson Yards redevelopment project in midtown Manhattan.
The New York location is OMERS’ second global office, with the other in London, U.K., which opened in 2008.