Photographer: Cole Burston/Bloomberg , Bloomberg. Jo Taylor, chief executive officer of Ontario Teachers' Pension Plan Board, has plans for the $242 billion (US$189 billion) fund to buy more . The Need for Speed in Trend-Following Strategies, Global Fixed Income: Volatility and Uncertainty Here to Stay, Morningstar Indexes' Annual ESG Risk/Return Analysis, 2023 Outlook: The Top Five Trends to Monitor in the Year Ahead, Show Me the Income: Discovering plan sponsor and participant preferences for cr, The Future of Infrastructure: Building a Better Tomorrow, For institutional investors, ETFs can make meeting liquidity needs easier, Gold: the most effective commodity investment, 2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios, Ten ways retirement plan professionals add value to plan sponsors. The union representing 750 mining workers at Mosaic Potash Esterhazy Ltd. in Esterhazy, Sask. On the one hand, its funded ratio has decreased to 95 per cent, down from 97 per cent a year earlier, after it increased pension payments of its retired members by six per cent to reflect the higher cost of living. environmental, social and governance (ESG). This was helped along by exits, including the sale alongside Wind Point Partners of polyvinyl chloride maker Aurora Plastics and the sale alongside Stella Point Capital of payment tech provider First American Payment Systems. Dont worry about the news anymore, through our newsletter youll receive weekly access to what is happening. Diversifying away from stocks and bonds and investing significant capital in alternative assets has become a hallmark of Canadas big pension funds (though some critics say such assets can be more difficult to value and valuations are not conducted as often as investments that trade on public markets). I dont want to be cocky or overstate it. Hongquan is currently based in Canada. Ares and Ontario Teachers will acquire a majority interest in the Company. Its an extraordinarily difficult year for any investor So, on balance, we are pleased with the outcome, OMERS CEO Blake Hutcheson told the Star. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Republication or distribution of this content is The trend toward more direct and control deals by large pension and sovereign investors has picked up in recent years. All rights reserved. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal, Cash Is Paying More Than Traditional Stock-Bond Portfolio, S&P 500 Wraps Up Turbulent Month Near Lows of Day: Markets Wrap. articles a month for anyone to read, even non-subscribers! For more information, visit otpp.com and follow us on Twitter @OtppInfo. Weve been cautious. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (Participants) and/or join its portfolio company boards or act in other advisory roles. How will the DOLs finalized rules impact ESG investing? Pension funds assets under management rose to C$241.6 billion, Private equity assets rose 29%, while resources returned 28%. Ontario Teachers Pension Plan returned 11% last year, helped by big gains in private equity and natural resources investments that mitigated losses in its bond portfolio. Hongquan Gu works at Ontario Teachers' Pension Plan, which is a Venture Capital & Private Equity company with an estimated 812 employees. Thats quite hard to do when you have 5 per cent to 10 per cent in somebody elses private equity deal.. Alberta is predicting a $2.4-billion budget surplus for its petro-powered economy this year, with plans to take a big bite out of its debt and put up guardrails to prevent eye-popping deficits when oil booms go bust. Sign up and get the best of News delivered straight to your email inbox, free of charge. 1,300 Employees . Ontario Teachers recognizes the deal environment has changed significantly because of inflationary pressures, rate hikes, Russias invasion of Ukraine and other factors, Frank said. Notable deals in Europe included acquiring a majority holding in plastic packaging producerLogoplasteand 30 per cent of insurance brokerSiaci Saint Honore. The trend toward more direct and control deals by large pension and sovereign investors has picked up in recent years. Taylor said returns for 2022 may not hit last years levels in a more challenging economic environment of rising inflation, rates and market selloffs. And while OMERS missed out on a boom in tech stocks in 2020 (contributing to a $3 billion loss that year), Hutcheson said Monday, We try not to get distracted by short-term fads or shiny objects., Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. Don't have an account? Royal Bank of Canada reported a first-quarter profit of $3.21 billion, down from $4.10 billion a year earlier as its provisions for credit losses increased. Choose your news we will deliver. Were now leaning into sectors like financial services and healthcare services, parts of industries we feel are more resilient.. it's been delivered there. to colleagues, clients or customers, or inquire about Ontario Teachers' Pension Plan Fund is a buyout fund managed by Ontario Teachers' Pension Plan. Since our establishment as an independent organization in 1990, we have built an international reputation for innovation and leadership in investment . Ares and Ontario Teachers are the right partners to help us expand on our steady growth as we continue to build the best place for the best people in packaging, said Carruthers. This balance, she noted, will support Ontario Teachers objective to grow its assets to C$300 billion by 2030, from C$242 billion today. The fund is located in Toronto, Canada and will invest in Canada, United States and Chile. Jo Taylor, chief executive officer of Ontario Teachers' Pension Plan, Toronto, has plans for the C$242 billion ($189 billion) fund to buy more controlling stakes in businesses directly, so. We believe that integratingenvironmental, social and governance (ESG) factors into our investment decisions and backing companies to act responsibly will create greater value for our members. Ontario Teachers' Pension Plan said equity gains helped offset fixed income and currency losses in the first half of the year, giving the Toronto-based retirement fund manager a 3.8% return for . Ontario Teachers' Pension Plan has acquired a majority stake in Nvision Eye Centers, an Aliso Viejo, California-based provider of comprehensive eye care services. presentation-ready copies of Toronto Star content for distribution global insights and specialized expertise. Teachers' can support direct private equity investments between $100 million and $3 billion. 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By going direct, instead of via a fund managed by a buyout firm, Taylor said OTPP is also able to save on the significant fees that exist in an industry known for rewarding itself generously. That still fell short of an internal benchmark targeting a gain of 7.2 per cent for the year, but it comes after other large pension managers, including the Caisse de dpt et placement du Qubec, reported losses in recent weeks. expressly prohibited without the prior written consent of Toronto By going direct, instead of via a fund managed by a buyout firm, Mr. Taylor said OTPP is also able to save on the "significant" fees that exist in an industry known for rewarding itself generously. Ares Management Corporation's Private Equity Group & Ontario Teachers' Pension Plan Board to acquire a majority interest in TricorBraun. Contact Information Fund Manager Ontario Teachers' Pension Plan Fund Manager Website www.otpp.com I think its always slightly egocentric, he said. The firm manages funds that have over $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. Another space of increasing interestis tech adoption. Register now to read this article and more for free. This copy is for your personal non-commercial use only. Subscribe to our Newsletter to increase your edge. About TricorBraunFounded in 1902, TricorBraun is North Americas largest distributor of primary packaging and one of the largest purchasers of packaging in the world. All Lacking a funds natural inhibitions, she said, Ontario Teachers can be an agile dealmaker with global reach. Investment firms have for years enjoyed a very favorable environment, with ultra-low interest rates spurring institutional money to chase higher returns in private markets as valuations boomed. permissions/licensing, please go to: www.TorontoStarReprints.com. Across our portfolio we help businesses become more profitable and sustainable. Ontario Teachers' Pension Plan Board (Ontario Teachers') is the administrator of Canada's largest single-profession pension plan, with CAD 242.5 billion in net assets as of June 30, 2022. Ontario Teachers long-term horizon is another differentiator that facilitates, among other things, value creation. He said he expects the private equity funds that OTPP does invest in to make returns and also offer the opportunity for co-investment. We try to be quite disciplined and ask, What is interesting, where is the best place not just for this year but for five years or even ten years?, Ontario Teachers, for example, targets opportunities in a few high- growth healthcare sub-sectors, such ophthalmology. . TricorBraun Jennifer Frighetto847-702-5304jfrighetto@tricorbraun.com, Ares Management Corporation Brunswick GroupAlex Yankus, 212-333-3810Ares@brunswickgroup.comOrAres Management CorporationCarl Drake, 800-340-6597cdrake@aresmgmt.com, Ontario Teachers Pension Plan BoardDan Madge416-730-6451media@otpp.com. It reflects, Frank said, Ontario Teachers pledge to achieve net- zero greenhouse gas emissions by 2050. The information you requested is not available at this time, please check back again soon. Toronto Star articles, please go to: www.TorontoStarReprints.com, Conversations are opinions of our readers and are subject to the, Are Canadas largest pensions putting your retirement at risk? Net assets rose 10% in 2021, a year in which the fund stepped up efforts to buy controlling stakes. Millan Mulraine sits down with our Multicultural ERG to discuss Black History Month, workplace progress and why he chose Ontario Teachers'. We try to be very sound, very reliable investors who think about what best-in-class looks like and who do a good job., Get the weeks top news delivered directly to your inbox Sign up for our newsletter. Read: Caisse highlights alternative investment portfolio as 2021 return hits 13.5%. Whether youre looking for a stock package or a groundbreaking custom design, TricorBrauns proven process will guide your packaging decisions from napkin sketch all the way to the retail shelf. As one of the largest pension plans in the world, we invest strategically across key markets and sectors to deliver steady returns. ophthalmology investments, including last years Veonet, owe to in-house domain expertise acquired over time. We had excellent investment performance, maintaining our fully funded status and delivered a high level of service for our members all while making meaningful progress on our new multi-year strategy.. We invest in everything from regenerative farming to real estate to renewable energy and everything in between. Were thinking about not the next twenty-four months and preparing a company for yet another sale but about how we put it on a path to build long-term value.. From rigid to flexible packaging, stock and custom capabilities, and countless options of materials, industries, and markets served, TricorBrauns range of packaging solutions sets it apart. Thrilled to announce our latest investment partnership with GraceMed, a leader in Canada's cosmetic surgery and medical spa industries. Ontario Municipal Employees Retirement System (OMERS) said Monday that it generated an investment return of 4.2 per cent in 2022, adding $4.9 billion in investment income to the plan, which had. Tenth Floor March 29-30, 2023 Convene, 117 W 46th St, New York, April 19-20, 2023 Convene, 117 W 46th St, New York, May 17-18, 2023 Hilton Tower Bridge, London, May 23-24, 2023 Convene 117 West 46th Street, New York, Get limited access to our industry news, analysis and data, plus regular email updates. {{data.symbol | reutersRICLabelFormat:group.RICS}}, {{ stock | formatPrefix }}{{ stock.netChng | formatNetChange }}, CPPIB sees tough climate for private deals with sellers wary. Only logged in subscribers of this site will be able to access the shared article. It invests the pension fund's assets and administers the pensions of 284,000 active and retired teachers in . Even among Ontario Teachers largest Canadian peers who together pioneered institutional direct investing this is an outsized share. In 2021 it announced an additional $70bn. The transaction is expected to close in the first quarter of 2021 and is subject to customary closing conditions and regulatory approvals. The organization was established in 1989 and is . Its private equity portfolio returned 29.9 per cent for the year, well above its 17.5 per cent benchmark. 1 December 2020. I think being agile and challenging ourselves is the way we get through this, she said. And Hutcheson said the higher cost to borrow money also gives OMERS an edge when it comes to competition to purchase new private assets. The Opportunity. In fact, it can be argued Ontario Teachers is today less of an LP than it is a very big GP. TricorBrauns proven process will guide your packaging decisions from napkin sketch all the way to the retail shelf. They might soon also be located in a new Ontario Teachers office in India. Star Newspapers Limited and/or its licensors. In 2021, Ontario Teachers did even better, earning a one-year net IRR of 29 percent. Private equity firms have historically charged a 2% management fee and 20% on any performance above a certain threshold. We use our agile team, deep sector expertise and global network to help our portfolio companies grow. Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, OMERS actually posted a loss of $500 million, Canadas big pension funds (though some critics say such assets can be more difficult to value, contributing to a $3 billion loss that year. Ontario Teachers' Pension Plan Board - OTPPB: An organization that oversees the pension plan for public school teachers in Ontario, Canada. Strong ESG practices and active management have long been at the heart of what we do and will continue to support our commitment to achieve a net-zero investment portfolio by 2050. The equities group is made up of private capital and high-conviction equities, which invests across the capital structure of listed businesses. Teachers Pension Plan, known widely as a top private equity investor, is perhaps underestimated in its foremost role as a buyer and seller of companies. Found email listings include: h***@otpp.com. The fund outperformed . , Bloomberg. Frank leads an equities group team of more than 140 investment professionals, operating from offices in Toronto, London, Hong Kong and Singapore. As of September 30, 2020, Ares Management's global platform had approximately $179 billion of assets under management with more than 1,400 employees operating across North America, Europe and Asia Pacific. Dont miss our weekly curated news and insights, By signing up for our newsletter, you accept our terms and conditions as outlined under. Serving customers since 1902, TricorBraun has grown to $1.5 billion in annual sales, with more than 1,100 team members in 50 locations throughout North America, Europe, and Asia. The deployment was a mix of direct and fund investing, however, the lions share was absorbed by about 20 direct deals, three-quarters of them led or co-led by Ontario Teachers. We deploy flexible capital in compelling private companies across a variety of strategies and time horizons. The Ontario Teachers' Pension Plan investments returned 11.1 per cent in 2021, with its result driven by the strong performance of its private equity portfolio . Because of the consistency of returns, Frank has no plans to alter the portfolios ratio of direct and fund investing. We are able to back firms without the pressure to fundraise or exit positions, allowing us to invest for the right time frame for our investments to grow and realize their strategic goals. We take a disciplined approach to value creation to help good companies become great from day one. Im pretty with happy with the strategic as well as the performance part of the size of the direct book vis--vis the size of the funds book and the size of public book.. Frank nonetheless believes Ontario Teachers is a differentiated investor possessing capabilities that make it stand out in a fiercely competitive PE industry. JavaScript seems to be disabled in your browser. AEA Private Equity invests across three sectors: value added industrials, consumer and services. If you dont deliver that, we dont do the next fund, said Taylor, a former executive at London-listed private equity firm 3i Group Plc. The Ontario Municipal Employees Retirement Systems assets grew by 4.2 per cent to $124.2 billion in 2022, according to its annual results. Our award-winning Design & Engineering Center provides forward-thinking design, driven by consumer insight and creative solutions. I do wonder sometimes whether its necessary.. Inflation itself has been a mixed blessing for OMERS. The fund outperformed its benchmark by 2.3 percentage points, lifting assets under management to C$241.6 billion ($189.2 billion), the Toronto-based pension manager said Monday in a statement. The fund targets the business products and services (B2B) sector. A few WSO users shared their knowledge of the group: From WSO user @optimus_prime". For the best experience on our site, be sure to turn on Javascript in your browser. With the rise of remote working options, some employees have found themselves living double lives, working two (or more) full time jobs at once. National Bank of Canada reported a first-quarter profit of $881 million, down from $930 million in the first quarter of 2022, as its provisions for credit losses ticked up. Hutcheson said the funds real estate assets (which generate a stream of rental income and tend to steadily increase in value) are also a good hedge against inflation. It currently has more than $30 billion in green investments. TricorBraun To Be Acquired by Ares Management and Ontario Teachers' Pension Plan Board | TricorBraun The store will not work correctly in the case when cookies are disabled. Our private capital model is based on true partnership, Busy Bees is the largest childcare provider in the U.K.. Private Equity salaries at Ontario Teachers' Pension Plan can range from $52,145-$58,170. Private Capital Private Capital We have one of the largest and most sophisticated pools of private equity capital in the world. 09:01. The pension system was in the thick of last year's vigorous PE dealmaking, investing or committing about $7.8bn globally, roughly 2x its outlay in 2020 and 2019. We look forward to working with Court and TricorBrauns strong management team to drive the next phase of the Companys growth, both organically and through strategic acquisitions., TricorBraun is uniquely positioned to serve the requirements of the packaging industry, said Karen Frank, Senior Managing Director, Equities, at Ontario Teachers. Looking ahead, OTPP is considering opening anoffice in Indiaas part of its expansion into fast-growing emerging markets and is also looking to set up a credit investment team in London. We live in a world where we collude and we compete with others and thats quite a hard thing to pull off, Taylor said. We dont pound our chest. OTPP manages the retirement pots of teachers in Ontario. rights reserved. Teachers Private Capital is the PE arm of Canada's Ontario Teachers' Pension Plan. Please check your spam or junk folder just in case Our globally diversified asset groups invest in over 50 countries around the world. He said he expects the private equity funds that OTPP does invest in to make returns and also offer the opportunity for co-investment. This transaction is Blackstone's second investment as part of its core private equity strategy, which is specifically designed to hold private equity investments in exceptionally high-quality companies for longer periods of time than traditional private equity funds. Mr. Taylor said raising larger pools of capital at a faster rate and a higher cost of entry, while delivering attractive returns, will become harder because of rising interest rates and previous investment mistakes. Peloton has ties to Ontario Teachers': two of its founders, Mike Murray and Faraone, were managing directors at the pension fund before they struck out on their own to start the private equity . New and bigger buyout funds have come to market quicker than ever, with the cycle shortening from a typical three-year period to 18 months in some cases, according to Mr. Taylor. Its only one data point, its only one year and were looking down the road. Ontario Teachers' Pension Plan has acquired a majority stake in NVISION Eye Centers, an Aliso Viejo, California-based provider of comprehensive eye care services. Taylor said raising larger pools of capital at a faster rate and a higher cost of entry, while delivering attractive returns, will become harder because of rising interest rates and previous investment mistakes. Jo Taylor, chief executive officer of Ontario Teachers' Pension Plan, Toronto, has plans for the C$242 billion ($189 billion) fund to buy more controlling stakes in businesses directly, so that it can save on fees and keep a closer eye on environmental, social and governance matters. We use our agile team, deep sector expertise and global network to help our portfolio companies grow. Posted 5:35:34 PM. Its Asia-Pacific regional offices are in Hong Kong and Singapore, and its Europe, Middle East & Africa region office is in London. Teachers' Pension Plan, known widely as a top private equity investor, is perhaps underestimated in its foremost role as a buyer and seller of companies. The long term nature of our mission enables us to invest for a spectrum of duration, including over the long term where others can't. "We have come out with very clear climate reduction targets," he said. But as central banks have raised interest rates, thats made it easier for the fund to save money, said OMERS chief financial officer Jonathan Simmons. Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors. We have come out with very clear climate reduction targets, he said. One of Ontarios largest pension fund managers said its investments in private assets, real estate and infrastructure helped save it from a wipeout last year as public stocks and bonds took big hits amid turbulent markets. By the end of the year, however, its real estate, infrastructure and private equity investments boosted the fund to a net gain. Along with our financial investment, we tap into our expertise and extensive global platform of experienced business leaders, managers and operating professionals to support our portfolio companies through the operational optimisation, regional expansion, acquisition acceleration, or business re-orientation that will unleash their potential. Founder Marg Randles and Group CEO Simon Irons share how Busy Bees' partnership with Ontario Teachers' helped their company grow from 230 nurseries in the UK to 910 across 10 countries, including Singapore, Australia and Canada. The Ontario Teachers' Pension Plan (OTTP) is the largest single-profession pension plan in Canada. While historically happy to invest for small stakes with private equity firms, also known as GPs, these funds have built up internal buyout deal expertise. Key stories on business-standard.com are available to premium subscribers only. The equities groups portfolio investments have typically averaged a one-year net IRR of about 20 percent. GlobalCapital, is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730, Covered bond spreads poised to tighten as supply cools, Ruschpler leaves ADB funding team for internal move, Belgium cuts stake in BNP Paribas but keeps seat on board, Santander hops into lively Kangaroo market after NAB tier two, Credit Suisse loses two more from credit sales. The company currently operates 664 centres across nine countries with 16,000 staff providing quality care for 63,000 children. About Ares Management Corporation Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate and Strategic Initiatives. That this is not better known, even ininformed market circles, is due to Ontario Teachers hesitation to talk about itself, Frank said. Since January 2020, President and Chief Executive Officer, Ontario Teachers' Pension Plan. OTPP is looking to increase the active risk taking and scale of its credit platform across various strategies and geographies, according to its website. And Asia portfolio as 2021 return hits 13.5 % of direct and control deals by large pension and sovereign has... Creation to help our portfolio we help businesses become more profitable and sustainable made up of private and... Acquiring a majority interest in the world of private equity funds that OTPP does invest in Canada the..! Quarter of 2021 and is subject to customary closing conditions and regulatory approvals to borrow money gives! The shared article to what is happening holding in plastic packaging producerLogoplasteand 30 per cent to 124.2! 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