OMERS' private equity arm makes first European sale: Reuters
Ontario's municipal workers' pension fund has sold a majority stake in global marine services company V.Group to buyout firm Advent International in the first sale by the Canadian fund's private equity arm in Europe, Reuters reported. As part of the shift to more direct investment, the Ontario Municipal Employees Retirement System (OMERS) set up a private equity team and now has about $10 billion invested. It started a London operation in 2009 and two years later it bought V.Group, which manages more than 1,000 vessels and employs more than 3,000 people, from Exponent Private Equity for an enterprise value of US$520 million.
5 December 2016•2 mins read
