1,300 Employees . 2023 Ontario Teachers Pension Plan. 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. The pension is expected to step into the the roles filled by private equity firm Birch Hill over the past nine years . If you do not yet have a Torstar account, you can create one now (it is free), Copyright owned or licensed by Toronto Star Newspapers Limited. TricorBraun is North Americas largest primary packaging distributor and one of the largest providers of packaging in the world. OTPP's top executives say returns for 2022 may struggle to hit last year's levels in a more challenging economic environment of rising inflation, rates and market sell-offs. 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. OTPP manages the retirement pots of teachers in Ontario. We take a disciplined approach to value creation to help good companies become great from day one. Jan-Henrik Frster and Dinesh Nair, Bloomberg News, Workers stand under a blue glow and the Canadian flag at the Tribute Communities Centre, where the leader of the Conservative Party of Canada, Erin O'Toole, is expected to speak at an election night event in Oshawa, Ontario, Canada, on Monday, Sept. 20, 2021. The Ontario Teachers' Pension Plan (OTTP) is the largest single-profession pension plan in Canada. All rights reserved. JavaScript seems to be disabled in your browser. 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? TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH. 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. How will the DOLs finalized rules impact ESG investing? Click If OTPP follows through on the pledge to bypass private equity funds on more deals, it will add another competitive force to the likes of Blackstone Inc., KKR & Co. and Apollo Global Management Inc. in the hunt for takeover targets in private and potentially public markets. "That's quite hard to do when you have 5% to 10% in somebody else's private equity deal.". 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.. 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 . Pension funds have been upping pressure on asset managers to apply more ESG awareness when investing their money, keen to show theyre not just paying lip service to issues like climate change and social mobility. Across our portfolio we help businesses become more profitable and sustainable. 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. We come out with very clear diversity, equity and inclusion targets in terms of gender participation on boards and how generally governance works around the businesses that we invest in.. 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. 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. Only logged in subscribers of this site will be able to access the shared article. Get Ahead! 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. Private equity firms have historically charged a 2% management fee and 20% on any performance above a certain threshold. 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Other services include global sourcing, manufacturing oversight and global supply chain programs. With the rise of remote working options, some employees have found themselves living double lives, working two (or more) full time jobs at once. March 14, 2022. Posted 5:35:34 PM. Since January 2020, President and Chief Executive Officer, Ontario Teachers' Pension Plan. Tenth Floor This has driven fresh initiatives, among them a commitment to TPG Rise Climate Fund, closed this year at $7.3 billion. Register now to read this article and more for free. Singapores state-owned investor Temasek Holdings Pte bought testing company Element Materials from buyout firm Bridgepoint Group Plc for US$7 billion earlier this year, while Brookfield Asset Management Inc. this week agreed toacquireemergency household repairs provider HomeServe Plc for 4.1 billion (US$5 billion). 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. 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. Jo Taylor, chief executive officer of Ontario Teachers' Pension Plan Board, has plans for the $242 billion (US$189 billion) fund to buy more . Sometimes the value creation playbook is going to take longer to execute, Frank said. 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. Ontario Teachers' Pension Plan has acquired a majority stake in NVISION Eye Centers, an Aliso Viejo, California-based provider of comprehensive eye care services. 1 December 2020. 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. We are an active investor with fungible capital. This enables flexible investing across strategies everything from buyouts and growth equity to structured equity and PIPEs independently or with fund partners and other like-minded investors. We have one of the largest and most sophisticated pools of private equity capital in the world. We look. "Hopefully there's enough return in our real assets and inflation hedge portfolio to compensate for potential losses elsewhere," said Chief Investment Officer Ziad Hindo. Responsible for advancing Ontario Teachers' Pension Plan global effectiveness across the entire enterprise. 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. The organization was established in 1989 and is . About Ontario Teachers Pension Plan BoardOntario Teachers' is the administrator of Canada's largest single-profession pension plan, with C$204.7 billion in net assets (all figures at June 30, 2020 unless noted). Equity investments generally range from $100 million to $1 billion and target well-managed companies in industries with positive secular tailwinds across North America, Western Europe, China, India and Australia. Teachers' can support direct private equity investments between $100 million and $3 billion. Free Shipping on Plastic Online Orders $149+. "One of the advantages of being in a control position is that you can actually have a consistent view of how we interact with the businesses," he said. 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. Private equity presently accounts for about one-quarter of all assets. 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. {{data.symbol | reutersRICLabelFormat:group.RICS}}, {{ stock | formatPrefix }}{{ stock.netChng | formatNetChange }}, CPPIB sees tough climate for private deals with sellers wary. The Ontario Teachers also invested or committed an additional $5 billion last year into green or transition assets, as part of its pledge to achieve net zero on its investment activities by 2050. The pension system was in the thick of last years vigorous PE dealmaking, investing or committing about $7.8bn globally, roughly 2x its outlay in 2020 and 2019. Singapore's state-owned investor Temasek Holdings bought testing company Element Materials from buyout firm Bridgepoint Group for $7 billion earlier this year, while Brookfield Asset Management this week agreed to acquire emergency household repairs provider HomeServe for 4.1 billion ($5 billion). Millan Mulraine sits down with our Multicultural ERG to discuss Black History Month, workplace progress and why he chose Ontario Teachers'. We are focused on being the Best Place for the Best People in Packaging Our people are dedicated, experienced, empowered, and have an entrepreneurial spirit that results in the creation of packaging that makes a difference. New York, NY 10017-4036, Chicago Office A few WSO users shared their knowledge of the group: From WSO user @optimus_prime". In a rare interview, Taylor said OTPP is looking more closely at both the returns its private equity portfolio generates, and whether it can have sufficient influence at the companies it invests in. it's been delivered there. 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. This estimate is based upon 2 Ontario Teachers' Pension Plan Private Equity salary report(s) provided by employees or estimated based upon statistical methods. Star Newspapers Limited and/or its licensors. Because of the consistency of returns, Frank has no plans to alter the portfolios ratio of direct and fund investing. No financial . Learn more now. Ontario Teachers' Pension Plan Fund is a buyout fund managed by Ontario Teachers' Pension Plan. 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. The information you requested is not available at this time, please check back again soon. Canada-based Ontario Teachers' Pension Plan, one of the world's biggest pension fund managers, says it is betting on infrastructure and private equity (PE) in this country. 130 E. Randolph St. Chicago, IL 60601, New Jersey governor proposes $7.1 billion pension contribution, Government watchdog highlights PBGC shortcomings in multiemployer aid program, Ventura County Employees adds $25 million to Cross Ocean fund commitment, Sponsored Content: Private Debt: Entering a New Era, The Institutional Investors Guide to ESG Investing, Climate Change: The Inescapable Opportunity, 2022 Defined Contribution East Conference, Ontario Teachers chalks up 11.1% return in 2021, Ontario Teachers, Corio partner on offshore wind projects, Ontario Teachers' Pension Plan weighs new India office in global push. Liked by Saad Khan. The Ontario Municipal Employees Retirement Systems assets grew by 4.2 per cent to $124.2 billion in 2022, according to its annual results. If OTPP follows through on the pledge to bypass private equity funds on more deals, it will add another competitive force to the likes of Blackstone, KKR & Co. and Apollo Global Management in the hunt for takeover targets in private and potentially public markets. "If you don't deliver that, we don't do the next fund," said Mr. Taylor, a former executive at London-listed private equity firm 3i Group. Gavin Graham's Top Picks: February 28, 2023, David Burrows' Top Picks: February 27, 2023, Eric Nuttall's Top Picks: February 24, 2023. The fund outperformed . Thats quite hard to do when you have 5 per cent to 10 per cent in somebody elses private equity deal.. 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. Bloomberg Surveillance, covering the latest news in finance, economics and investments. Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. A specialization in sustainability and energy transition is a rebrand of the former energy and power. 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. The Ontario Teachers total fund exceeded its benchmark of 8.8 per cent, according to a press release announcing its annual results. 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. They included the acquisition of software provider Mitratech for $1.5 billion and the acquisition alongside PAI Partners of eye-care clinic network Veonet, reportedly for $2.3 billion. For more information, please visit www.aresmgmt.com. Weve pivoted, from last year in the things were focused on. A decided preference for direct investing is part of a PE tradition at Ontario Teachers started ages ago, Karen Frank, global head of equities, told Buyouts. We dont just invest to make a return; we invest to make a mark. Join 120,000 other PE professionals today. And Hutcheson said the higher cost to borrow money also gives OMERS an edge when it comes to competition to purchase new private assets. An independent organization, it invests the pension fund's assets and administers the pensions of 329,000 active and retired teachers in Ontario. Notable deals in Europe included acquiring a majority holding in plastic packaging producerLogoplasteand 30 per cent of insurance brokerSiaci Saint Honore. Please check your spam or junk folder just in case ophthalmology investments, including last years Veonet, owe to in-house domain expertise acquired over time. Senior team members include Romeo Leemrijse and Bogdan Cenanovic, global group sector heads; Harj Shoan, global head of funds; Jean-Charles Douin, head of private capital EMEA; Raju Ruparelia, head of private capital APAC; and Maggie Fanari, head of high-conviction equities. The transaction is expected to close in the first quarter of 2021 and is subject to customary closing conditions and regulatory approvals. We believe that TricorBrauns deep expertise, entrepreneurial approach, strong track record, and exceptional culture differentiate the company from its peers, said Brian Klos, Partner, Ares Private Equity Group. 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. Through growth equity, structured equity, buyouts or co-investing with other top-tier partners, we focus on positions where we can play a larger role in building stronger companies. Ares and Ontario Teachers will acquire a majority interest in the Company. Teachers' is an independent organization headquartered in Toronto. He said he expects the private equity funds that OTPP does invest in to make returns and also offer the opportunity for co-investment. Contact Information Fund Manager Ontario Teachers' Pension Plan Fund Manager Website www.otpp.com Net assets under management rose 10 per cent in 2021, a year in which the fund stepped up efforts to buy controlling stakes. 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. Private Capital Private Capital We have one of the largest and most sophisticated pools of private equity capital in the world. The equities group is made up of private capital and high-conviction equities, which invests across the capital structure of listed businesses. 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. Key stories on business-standard.com are available to premium subscribers only. $57B in assets under management 500+ company and fund investments since 1991 75+ global investment professionals You should only be asked to sign in once. Dont miss our weekly curated news and insights, By signing up for our newsletter, you accept our terms and conditions as outlined under. Notable deals in Europe included acquiring a majority holding in plastic packaging producer Logoplaste and 30% of insurance broker Siaci Saint Honore. TORONTO, [Wednesday, September 22, 2021] /CNW/ - Ontario Teachers' Pension Plan Board ("Ontario Teachers'") announced today that it has entered into an agreement to acquire HomeQ Corporation ("HomeQ"), the parent company of HomeEquity Bank, from Birch Hill Equity Partners Management Inc. ("Birch Hill") and the other minority shareholders of HomeQ. The economy and markets are "under surveillance". OTPP is looking to increase the active risk taking and scale of its credit platform across various strategies and geographies, according to its website. A growing chorus of experts say they are, Caisse de dpt et placement du Qubec reports loss of 5.6 per cent in 2022, Ontario Teachers Pension Plan becomes second public pension to write off crypto bet, The Toronto Star and thestar.com, each property of Toronto Star The company currently operates 664 centres across nine countries with 16,000 staff providing quality care for 63,000 children. To be sure, pension funds still see private equity firms as key to hitting their alternative investment allocations. Im super passionate about innovation, Frank said, investing in companies that undertake digitization or using digital capabilities to invest across a range of businesses., A priority, she added, will be digital disruption of traditional sectors in which Ontario Teachers is active, such as insurance. Base is in 80-85k range. Photographer: Cole Burston/Bloomberg To be sure, pension funds still see private equity firms as key to hitting their alternative investment allocations. In just three months, Jennifer Krahns life completely changed. 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. The Company has made significant investments in top talent and operations, and will seek to capitalize on those to drive long-term growth in the years ahead. rights reserved. document.write(CurrentYear) Contex Group Inc. All rights reserved. Teachers Private Capital is the PE arm of Canada's Ontario Teachers' Pension Plan. 2020 by Private Equity Insights. Canadian Prime Minister Justin Trudeau is poised to win a third term in a snap election but fall short of regaining the parliamentary majority he was seeking. Significant scale with 247.2 in net assets Funding ratio of 105.99 Investing for 336000 working and retired teachers Logoplaste is a leading global designer and manufacturer of value-added rigid plastic packaging solutions. We pay pensions and invest plan assets on behalf of 329,000 working and retired teachers. We have had a tremendously successful partnership with AEA, culminating with record sales in 2020, and we look forward to working with Ares and Ontario Teachers to deliver even greater value to our customers and suppliers over the coming years.. Today, AEAs approximately 90 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The equities groups portfolio investments have typically averaged a one-year net IRR of about 20 percent. Were humble Canadians, she said. The head of one of North America's biggest investors in private markets wants to cut its reliance on buyout firms and do more dealmaking on his own. 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 $124 billion in assets by the end of the year. Choose your news we will deliver. Its surprisingly mostly legal, and some will argue they have found the benefits far outweigh the risk. We use our agile team, deep sector expertise and global network to help our portfolio companies grow. The store will not work correctly in the case when cookies are disabled. here to register, Not for publication, email or dissemination, PE-backed NSL taps Herderick as science and tech development VP, Flexpoint Ford-backed Clearstead buys wealth management firm Avalon Trust, Tennis champion/entrepreneur Venus Williams joins Topspin as operating partner, Ares backs BlueCove; Thoma Bravo closes Coupa deal; plus Black History Month interviews, Red Arts Chad Strader: Diversity is good for business; US PE firms vie for public European names, PE pioneer Thomas H. Lee passes away; ArcLights Great River Hydro exit plus evolution of infrastructure investments, DCP Capital to buy stake in Chinese business of Jamieson Wellness. Republication or distribution of this content is The head of one of North America's biggest investors in private markets wants to cut its reliance on buyout firms and do more deal-making on his own. 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. Its only one data point, its only one year and were looking down the road. Private equity firms have historically charged a 2 per cent management fee and 20 per cent on any performance above a certain threshold. articles a month for anyone to read, even non-subscribers! Photographer: Cole Burston/Bloomberg , Bloomberg. The content you are trying to view is exclusive to our subscribers. 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). Ontario Teachers' Pension Plan, a Canadian fund that manages C$242.5 billion ($181 billion) of assets, has paused direct investing in private assets in China, according to people familiar. 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. Ontario Teachers, for example, acquired a majority of Acorn Healthcare, a US autism treatment provider, while on the other side of the world, it was a minority investor in VerSe Innovation, Indias biggest local language tech platform. 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. Click below to get started. Claim your Free Employer Profile Website: www.otpp.com Headquarters: North York, Canada Size: 1001 to 5000 Employees Founded: 1990 Type: Company - Private Industry: Investment & Asset Management Revenue: $10+ billion (USD) Competitors: CPP Investments, OMERS, Caisse de dpt et placement du Qubec 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 . We dont pound our chest. We provide the capital and support to help high-performing management teams and boards grow and become leading global franchises. Not the case? All rights reserved. By signing up for our newsletter, you accept our terms and conditions as outlined underpe-insights.com/privacy-policy. 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.. Click here. 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. Millan Mulraine sits down with our Multicultural ERG to discuss Black History,! Are `` under Surveillance '' store will not work correctly in the world 8.8 per cent on performance... Plan in Canada is a rebrand of the Ontario Teachers will acquire a majority in... For advancing Ontario Teachers ' is an independent organization headquartered in Toronto MONTH. 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