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OMERS sells $477m mortgage portfolio to Alberta Investment Management

18 Aug 2014

real estate home houseCanadian pension giant OMERS has sold a C$520m ($477m) mortgage portfolio to Alberta Investment Management.

AIMCO is one of the country’s biggest mortgage lenders, with $3bn of loans, and has total capital under management of about $80bn.

OMERS’ portfolio consisted of fifty geographically-dispersed Canadian mortgages secured by institutional-quality, income-producing properties, the LP said.

Earlier this year OMERS teamed up with Japan’s Government Pension Investment Fund (GPIF) and the Development Bank of Japan (DBJ) to make private capital investments.

GPIF and DBJ will contribute $2.5bn to the co-investment partnership, which will use the expertise of OMERS’ investment units including Borealis Infrastructure.

The Japanese institutions’ participation will bring the total commitments to OMERS’ investment programme Global Strategic Investment Alliance to $11.25bn.

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