Closes add C$525m to the Strategic Partnership Program
Four Strategic Partners added, taking the number to 18 in total
2023 marks OMERS Infrastructure’s 10-year anniversary of managing capital on behalf of third-parties
(6 September 2023) – OMERS Infrastructure has today announced that it has reached its target raise for two co-investment processes as part of its global third-party capital platform, the Strategic Partnership Program (‘SPP’). In its 10-year history of managing third-party capital, OMERS Infrastructure has successfully partnered with 18 strategic co-investors on 13 investments. With the completion of these most recent processes, invested capital in SPP grew by C$525m to over C$6.6bn.
The co-investment processes involved two OMERS Infrastructure portfolio companies: Waveconn (a specialist developer, operator, and investor in the telecommunications infrastructure in Australia), and Direct ChassisLink Inc. (one of the largest chassis providers in the United States). In each case, OMERS retained the majority of its equity interest for its balance sheet, to ensure meaningful alignment with its co-investors. Both processes reached final close in Q2 2023.
Irini Kalamakis, Senior Managing Director and Global Head of Strategic Partnerships, OMERS Infrastructure, said: “Despite a challenging capital environment, we have successfully closed two of our largest ever co-investments – a true testament to the strength of our relationships with our Strategic Partners, the attractiveness of our platform and the caliber of talent that invests in and manages our assets.”
The Waveconn and DCLI processes include commitments from a number of new and existing Strategic Partners. Individual investor names and commitment sizes are not being disclosed by OMERS Infrastructure.
Irini Kalamakis added: “Our Strategic Partners are a select group of global like-minded institutions whose investment objectives align with OMERS, and who seek to access the OMERS Infrastructure platform to selectively expand their portfolios. We are delighted they have entrusted us to manage their investments in each of these world-class portfolio companies.”
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About OMERS Infrastructure
OMERS Infrastructure manages infrastructure investments globally on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. OMERS Infrastructure manages approximately C$34 billion, including capital invested on behalf of OMERS and third parties, in approximately 30 investments located in North America, Europe and Asia-Pacific and across sectors including energy, digital services, transportation and government-regulated services. OMERS Infrastructure has employees in Toronto, New York, the U.K., Continental Europe, Asia and Australia.
About the Strategic Partnership Program at OMERS Infrastructure
OMERS Infrastructure manages third-party capital alongside OMERS capital as part of its Strategic Partnership Program (SPP). OMERS’s partners are a select group of global like-minded, long-term institutional investors whose investment objectives align with ours, and who seek to access our infrastructure investment pipeline and asset management platform to selectively expand their portfolios. OMERS Infrastructure currently manages capital on behalf of 18 strategic partners in 13 assets around the world.
About Waveconn & DCLI
Waveconn was created in August 2022 through the acquisitions of TPG Telecom Limited’s mobile tower and rooftop portfolio, and Stilmark, an independent Australian developer, owner and operator of mobile tower assets. Upon close, they were combined and now operate as a single business under a new brand. Waveconn has a footprint of 1,400 tower and rooftop sites in Australia and is growing quickly.
OMERS, as part of an investment consortium, acquired DCLI in December 2022. DCLI is one of the largest chassis lessors in the U.S., enabling over-the-road transportation of containerized freight to and from ports, railyards, and customer locations. With over 151,000 marine and 122,000 domestic chassis in its fleet, DCLI operates out of strategic locations across key port and rail terminals in the U.S. Headquartered in Charlotte, North Carolina, DCLI employs over 400 employees.