OMERS

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title: "OMERS" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["omers", "1962-establishments-in-ontario", "economy-of-ontario", "investment-companies-of-canada", "local-government-in-ontario", "organizations-based-in-toronto", "organizations-established-in-1962", "private-equity-firms-of-canada", "public-pension-funds-in-canada"] description: "Canadian pension fund" topic_path: "economics" source: "https://en.wikipedia.org/wiki/OMERS" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary Canadian pension fund ::

::data[format=table title="Infobox company"]

Field	Value
name	Ontario Municipal Employees Retirement System
logo_size	200px
trade_name	OMERS
type	Statutory corporation
industry	Pension fund
foundation
location	EY Tower
900-100 Adelaide Street West
Toronto, Ontario
M5H 0E2
area_served	Participating employers and employees in Ontario, Canada
key_people	Blake Hutcheson (CEO)
George Cooke (Board chair, Administration Corporation)
Laurie Hutchinson (CEO, Sponsors Corporation)
Max Cananzi (Board chair, Sponsors Corporation)
net_income	OMERS funded status on a smoothed basis was 98% in 2024
assets	C$140.7 billion (June 30, 2025)
owner	The participating employers and employees of the OMERS pension plans
num_employees	estimated 1000
divisions	OMERS Infrastructure
OMERS Capital Markets
OMERS Private Equity
Oxford Properties
homepage
::

| name = Ontario Municipal Employees Retirement System | logo = | logo_size = 200px | trade_name = OMERS | type = Statutory corporation | industry = Pension fund | successor = | foundation = | location = EY Tower 900-100 Adelaide Street West Toronto, Ontario M5H 0E2 | area_served = Participating employers and employees in Ontario, Canada | key_people = Blake Hutcheson (CEO) George Cooke (Board chair, Administration Corporation) Laurie Hutchinson (CEO, Sponsors Corporation) Max Cananzi (Board chair, Sponsors Corporation) | revenue = | operating_income = | net_income = OMERS funded status on a smoothed basis was 98% in 2024 | assets = C$140.7 billion (June 30, 2025) | owner = The participating employers and employees of the OMERS pension plans | num_employees = estimated 1000 | divisions = OMERS Infrastructure OMERS Capital Markets OMERS Private Equity Oxford Properties | homepage = | footnotes = | intl =

The Ontario Municipal Employees Retirement System{{cite web|url = https://www.omers.com/about-omers |title = About OMER |publisher = OMERS |access-date = 2020-09-17 |url = https://www.omers.com/about-omers |title = About OMERS |publisher = OMERS |access-date = 2020-09-17

OMERS members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children's aid societies across Ontario.

OMERS is one of Canada's top eight pension funds, nicknamed the "Maple 8" or "Maple Revolutionaries."

Organization

OMERS is governed by the Ontario Municipal Employee's Retirement System Act, 2006, an Ontario law which superseded the older Ontario Municipal Employees Retirement System Act. Members contribute 9% of their salary below the Year's Maximum Pensionable Earnings (YMPE), and 14.6% on income over YMPE.

Under the 2006 law, OMERS is composed of two statutory corporations. In 2019, OMERS ventures launched a $315M European Venture fund, a fully owned subsidiary of OMERS Ventures led by Managing Partner Harry Briggs.

OMERS is a partner of the World Economic Forum.

Recent and current operations

In March 2017, OMERS acquired a stake in Kemble, the UK holding company of Thames Water. 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 write-down" of its 31.7% stake in Kemble, signaling the shares were now worth nothing.

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.

25% of OMERS' investments are in Canada. Its largest investment is in Bruce Power.

The retail real estate portfolio includes Kingsway Mall and Southcentre Mall in Alberta; Hillcrest Mall, Scarborough Town Centre, Square One Shopping Centre, Upper Canada Mall, and Yorkdale Shopping Centre in Ontario. OMERS has over 6,000 residential rental units in Vancouver, the Greater Toronto Area, and Montreal; 15 million square feet of office space in Vancouver, Toronto and Calgary; and, is invested in hotels across Canada.

In July 2024, Bloomberg News reported some Canadian pension funds were moving away from commercial real estate following recent challenges. Although OMERS was one of the funds that reported a loss in this portfolio, the CEO of OMERS, Blake Hutcheson, announced they would continue with their strategy.

OMERS began investing in electric vehicle battery developer and manufacturer, Northvolt, in 2021. A loss on its almost $450 million investment after Northvolt's bankruptcy, was reported by the Globe and Mail in November 2024.

References

Sources

• Profile of OMERS Corporation. Bloomberg. 14:18, 15 November 2021 (UTC)

References

1. (October 31, 2023). "GG2.4 - City of Toronto – Financial Update and Outlook".
2. (2025-08-21). "Governments and institutional investors show alignment on big project financing, OMERS CEO says". The Globe and Mail.
3. "An Act to establish the Ontario Municipal Employees Retirement System. 1961-62 c. 97".
4. "OMERS Employer Listing".
5. (8 December 2022). "How Peter Drucker Revolutionized Canada's Public Sector Pension System: Lessons for Americans".
6. "Ontario Municipal Employees Retirement System Act, 2006, S.O. 2006, c. 2".
7. "Ontario Municipal Employees Retirement System Act, R.S.O. 1990, c. O.29".
8. "Omers Administration Corporation". cavalluzzo.com.
9. (25 March 2019). "Omers Ventures outs €300M European fund — Q&A with Managing Partner Harry Briggs".
10. "OMERS".
11. (14 March 2017). "Macquarie sells off final stake in Thames Water". The Telegraph.
12. (17 May 2024). "Thames Water's biggest investor cuts value of its stake to zero". Guardian.
13. (2023-11-06). "Canada's OMERS buys 5% indirect stake in Toronto Raptors-parent MLSE for $400 mln". Reuters.
14. "2023 Annual Report Highlights".
15. "Archived copy".
16. "Global real estate investor, developer, and manager {{!}} Oxford Properties".
17. (8 July 2024). "Commercial real estate challenges forcing Canadian pension funds to re-evaluate strategy: report {{!}} Benefits Canada.com".
18. "Northvolt raises $2.75 billion in equity to deploy further battery cell capacity – expands Swedish gigafactory to 60 GWh".
19. "Omers writes down US$325 million Northvolt investment {{!}} Financial Post". Financial Post.

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