OMERS investments in the news
Indian solar power, European healthcare, 7 innovative companies
August 12, 2021
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In the week that we announce some mid-year financial news, we also wanted to update you on a number of exciting investment stories over the last few weeks. Our investment teams have worked really hard and been particularly busy recently to close a number of deals around the world. Below are a few we wanted to share with you.
Solar power company in India
We announced our second investment in India a few weeks ago, in solar power company Azure Power; our stake in the firm is approximately 19.4%. It is really exciting news as we continue to grow our footprint in Asia, and expand the number of renewable energy companies in our portfolio.
Commenting on the transaction, Annesley Wallace, Executive Vice President and Global Head of OMERS Infrastructure, said: “This transaction directly supports our mission of building a strong portfolio of well-run assets that will help pay pensions to our members over the long term.”
Medical diagnostic company in Europe
We’ve also made another significant investment in Europe, into medical diagnostics firm amedes Group. The company has more than 75 laboratories and specialty medicine sites across Germany, Belgium and Austria to support the needs of the healthcare industry through the delivery of quick, accurate and reliable diagnostic services, conducting more than 400,000 analyses per day.
Commenting on the news, Philippe Busslinger, Senior Managing Director and Head of Europe, OMERS Infrastructure, said: “OMERS is pleased to be backing amedes and its management team in its continued pursuit of medical excellence. amedes is our fourth infrastructure investment in Germany, which continues to be a core region of interest to us.”
Investing in 7 innovative companies so far this year
The Growth Equity arm of OMERS – which seeks to partner with innovative North American companies – has made seven investments this year, expanding the number of companies in its portfolio to 12! What a stellar year so far!
Bloomberg News recently spoke to Mark Shulgan, our Head of Growth Equity. The in companies that are using technology to reimagine core industries such as healthcare, talent recruitment and legal services, as well as how the business is filling the gap between venture financing of early-stage companies and OMERS private equity holdings of larger firms.
Congratulations to all the teams who made these investments possible! We’re excited to see them grow over the coming years, with the returns helping us deliver our pension promise to you, our Members. Stay tuned!