OMERS Infrastructure

We are pleased to announce that agreements have been signed to sell OMERS ~25% stake in Exolum to Stoneshield Capital and another global investment firm with over $100 billion in assets under management.   Over the past decade, we have worked closely with management and our investment partners to support Exolum’s growth, international expansion, and progress in areas linked to lower-carbon fuels and future energy infrastructure.   Since our initial acquisition alongside our investment partners in 2016, the company has evolved into a more diversified and increasingly international energy logistics platform with a growing role in supporting the energy transition.   Today, Exolum operates approximately 6,000km of pipeline infrastructure across Spain and the UK, owns 68 storage terminals globally, and serves more than 48 airports worldwide.   We are proud of what has been achieved during our stewardship and of the active role we have played in supporting the company’s growth and evolution.   This transaction reflects both the quality of the business and our disciplined approach to active portfolio management and capital rotation.   We would like to thank Exolum’s management team, employees, and our investment partners for their collaboration throughout our ownership period, and wish Stoneshield Capital and the other investment firm continued success in the years ahead.   We also want to recognize the many current and former OMERS team members who supported and stewarded the asset over the past decade, helping position the business for this successful outcome. Further details here: https://lnkd.in/eeswdU66   Congratulations to everyone involved!

OMERS is committing to invest at least C$10bn in Canada over the next five years and we believe Infrastructure, which is currently OMERS largest asset class, will play a noteworthy role in delivering that ambition.   Commenting on the announcement, our Global Head of Infrastructure, Michael Hill, spoke to Infralogic. He said: “We believe that Canada offers an increasingly robust environment for long-term infrastructure investment, particularly in assets that support reliable, clean energy and essential services. Through OMERS portfolio, including investments like Bruce Power, we see that infrastructure investment can support local communities and economic growth, and we are accelerating our cross-country pursuit of new high-quality infrastructure assets aligned with our long-term investment strategy. We are thrilled to be a part of this moment in time for Canada and believe that infrastructure investment will play a critical role in delivering OMERS growth goals in service of Plan members.”   The full Infralogic article (not behind a paywall) is here: https://lnkd.in/eBKJ5uzN Examples in OMERS current infrastructure portfolio in Canada include three core assets: Bruce Power, the world’s largest operating nuclear facility; Teranet Inc., an electronic property search and registration services provider; and Beanfield, which operates a 100% fibre network across Toronto, Vancouver and Montreal.

The energy transition is bigger—and more complex—than just renewables.   At the Infrastructure Investor Global Forum in Berlin this week, Delphine Voeltzel, a Managing Director who leads our energy origination in Europe, spoke about our views on the need to move beyond a narrow definition of energy transition. She said: “The transition is no longer just about renewables—it’s about the entire system required to deliver electrification and decarbonization. Alongside renewables, that includes natural gas in the near term, nuclear for clean baseload, and greater grid flexibility enabled by battery storage alongside other solutions, including behind-the-meter infrastructure.”   She explained that a more holistic approach will likely be critical to delivering a reliable, affordable and lower-carbon energy system. As a long-term investor, OMERS continues to focus on building resilient, future-ready infrastructure platforms that support the transition while delivering sustainable returns for our members.   It was a great event! Thanks for the invitation, Infrastructure Investor!

Leadership announcement! We’re delighted to announce the appointment of Luca Lupo as our Head of Europe.   Michael Hill, Global Head of OMERS Infrastructure, said: “Luca stood out as the absolute right choice for this role. He has deep knowledge of European markets, our portfolio, and is highly respected by our portfolio company management teams, advisers, and investment partners. Europe is, and will, remain a core region for OMERS, and Luca’s leadership will help position our platform for its next strategic phase.” Since joining us in 2022, Luca has been an integral member of the leadership and has made meaningful contributions across the portfolio, including leading the Grandi Stazioni Retail S.p.a. Retail investment which marked OMERS entry into Italy. Luca Lupo said: “I’m delighted to take on this leadership role. Europe is a core market for OMERS within which we have built a strong and diversified infrastructure portfolio and are actively pursuing new opportunities across the energy, transport and digital sectors.” Congrats, Luca! Full media release 👉 https://lnkd.in/eaK2e4Se.

Another milestone achieved: we have successfully signed a USD$290m inaugural US Private Placement for the OMERS holding company of Oncor Electric Delivery — the largest electricity transmission and distribution business in Texas, and an OMERS portfolio company since 2008.   This marks OMERS third infrastructure refinancing in five months. In late 2025:  • The OMERS holding company of Bruce Power completed its inaugural C$1.5bn senior unsecured bond issuance — the largest domestic holding company bond issuance in the Canadian Power & Utilities sector to date. • We also closed €770m in new debt facilities for the OMERS holding company of Exolum, the global energy logistics platform supporting the energy transition.   Notably, all three transactions were oversubscribed, reflecting the strong fundamentals of these assets and support from our global lending partners.    Michael Hill, Global Head of OMERS Infrastructure, said: “OMERS is singularly focused on providing retirement security for our members, and investing in essential infrastructure assets globally is central to that mission. Refinancings — delivered through strong financial partnerships — play a critical role in the lifecycles of our investments, helping to enable resilience, growth and value creation.”   Congratulations to our teams and partners who made these milestones possible!

Another award win for the OMERS portfolio! Interise — which manages 16 operational road concessions across eight states in India — has received the Best Operations & Maintenance Practices Award at the Build India Infra Awards.   The recognition highlights both the strength of its operational delivery and the positive impact it brings to communities across India.   This follows another recent success, with OMERS investment in Grandi Stazioni Retail S.p.a. winning European Transportation Deal of the Year at the IJGlobal Awards.   Michael Hill, Global Head of OMERS Infrastructure, said: “These awards recognize that our assets deliver meaningful impact in the communities they serve and are supported by high-caliber teams focused on operational excellence and long-term value creation.”   We’re proud to see the teams behind our investments acknowledged for their commitment and high standards. Congratulations to all involved!   Further details on the award can be found here: https://lnkd.in/gDyp8kxj

OMERS has been proudly invested in Bruce Power, located in our home province of Ontario, since 2003. Bruce Power plays a critical role in Ontario’s energy system, generating approximately 6,550 MW of peak clean electricity and supplying around 30% of the province’s power. This week, Steven Zucchet, one of our Managing Directors, joined the CIBC Nuclear Summit in Toronto to discuss financing and investment in the nuclear sector. During the panel, Steven shared insights on topics including risk allocation, financing structures, and how to attract long-term capital to support large-scale energy infrastructure projects. Thank you to CIBC for hosting a great event and inviting us, and for your partnership across our portfolio. 

OMERS Infrastructure manages more than AUD 5 billion of equity across energy, transport and digital assets in Australia, which is a core part of our portfolio. Christopher Curtain, our Head of Asia-Pacific, this week spoke at Infralogic’s Australia Forum where he shared examples of our impact in the region over the past 12 years, his views on current market dynamics, and offered his predictions for the asset class in Australia in the years ahead. Thanks for the invitation, Infralogic. It was a great event!

Exciting development for one of our Canadian infrastructure investments! The Town of Newmarket and the Township of Tay have formally approved the sale of Newmarket-Tay Power Distribution Ltd. (NT Power) to Alectra Inc.. OMERS has been invested in Alectra (and a predecessor entity) for over 20 years, supporting a business that now distributes electricity to approximately one million customers across a 1,900 sq km service territory in Ontario. We’re always proud to see the growth and community impact of our investments — and even more so when it’s happening in our home province. Congratulations to everyone involved! More information is here: https://lnkd.in/eJQBY8ui

Team announcement! We’re thrilled to welcome Jeff Kelly as Managing Director to our Americas team. Based in New York, Jeff will lead and support a wide range of portfolio management and strategic initiatives across our portfolio of 10 assets in the USA and Canada. Peter Gray, CFA said: “Jeff brings a wealth of knowledge and experience from his 25-year career across investing, business transformations, and operations. We’re thrilled to have Jeff join our team of over 40 dedicated infrastructure professionals in the Americas.”   Welcome to the team, Jeff!