Latest news with #OntarioTeachersPensionPlan
Bloomberg
6 days ago
- Business
- Bloomberg
Ontario Teachers Cuts US Dollar Exposure by 56% as Loonie Gains
Ontario Teachers' Pension Plan cut its exposure to the US dollar by 56% in the first half of the year as Canada's currency surged against the greenback. The pension said its net exposure to the US dollar was C$40.2 billion ($29.2 billion) at the end of June, marking the lowest level since the middle of 2021. That shift coincided with the Canadian dollar's strongest first-half rally versus its US counterpart in nearly a decade, a move driven by a turbulent US trade agenda.
Bloomberg
11-08-2025
- Business
- Bloomberg
Gold Drives Ontario Teachers' to 2.1% Gain Despite Tough Market
Ontario Teachers' Pension Plan gained 2.1% in the first half of the year thanks to gold, which more than offset the muted returns of private assets. Net assets increased to C$269.6 billion ($195.8 billion), up C$3.3 billion from the end of last year, according to a statement Monday. The Toronto-based pension plan earned 7.1% in the past 12 months.
Mint
09-07-2025
- Business
- Mint
Manipal buys Pune's Sahyadri Hospitals from Ontario Teachers for $760 mn
Three years after acquiring a controlling stake in Pune-based Sahyadri Hospitals, Ontario Teachers Pension Plan (OTPP) has sold the chain to Temasek-backed Manipal Hospitals as consolidation continues in India's healthcare market. The company's statement announcing the deal late on Wednesday didn't disclose financial details. However, according to two people with knowledge of the development, Manipal has agreed to pay around $750-760 million (about ₹ 6,200-6,400 crore) for the majority stake in its attempt to bulk up its asset base before it looks to go public. OTPP had reportedly bought the firm for ₹ 2300 crore in 2022. Manipal outbid Blackstone-backed Aster DM Quality Care in the process, the people said. Other bidders were Fortis Healthcare and global private equity firm EQT. This transaction further consolidates the healthcare market in India as large firms have been looking to grow via inorganic route in the past few years. This acquisition will strengthen Manipal Hospitals' presence in western India, increasing its total beds to about 12,000 and hospitals to 49. The expansion is in line with Manipal's strategy to augment its pan-India footprint, it said in the release. 'This acquisition will strengthen our presence in western India, enabling us to extend world-class healthcare to more patients,' said Ranjan Pai, chairman, Manipal Education and Medical Group. Prior to the acquisition, Manipal had over 10,500 beds and was among the top three hospital chains in India, along with Apollo Hospitals and Aster DM Quality Care. 'Healthcare is a key investment theme for us globally and in India. Drawing on our global experience and playbook of investing in healthcare services, we saw the potential to build on Sahyadri's strong brand to create a regional healthcare leader," Deepak Dara, senior managing director and head of India, Ontario Teachers Pension Plan, said in a separate statement.
CTV News
26-06-2025
- Business
- CTV News
Climate group raises concerns about oil and gas representation on pension fund boards
Suncor's base plant with upgraders in the oil sands in Fort McMurray Alta, on Monday June 13, 2017. THE CANADIAN PRESS/Jason Franson TORONTO — A climate advocacy group says oil and gas representation on the boards of Canada's big public pensions raise concerns about conflicts of interest. Shift Action says in a new report that as of June 1, the boards of five of Canada's largest public sector funds had members who are also involved with fossil fuel companies. It says CPP Investments, Canada's largest pension fund, has the second-highest representation with three in ten members of its board having ties to the industry. The fund, which recently dropped its commitment to reach net-zero financed emissions by 2050, did not immediately respond to a request for comment. Other funds the group found with cross-appointments include the Ontario Teachers' Pension Plan, Public Sector Pension Investment Board, Alberta Investment Management Corp. and Ontario Municipal Employees Retirement System. Shift says that pension funds have a legal responsibility to act in the long-term best interest of beneficiaries, and that the interests of fossil fuel companies could compete with efforts to manage climate-related risks and reducing emissions. 'It's easy to see how fossil fuel company directors could potentially find themselves with real or perceived conflicts, and how such conflicts, if not addressed, could undermine prudent pension governance,' said Shift executive director Adam Scott in a statement. The group says that in total, nine current board members across the funds sit on the boards or executive teams of 12 oil and gas companies, or investment firms focused on the industry. It notes, however, that the number of boards with fossil fuel representation has gone down from seven to five since its last report in 2022. It says the boards of Healthcare of Ontario Pension Plan, Investment Management Corporation of Ontario and CDPQ no longer have fossil fuel representation. --- This report by The Canadian Press was first published June 26, 2025.
Yahoo
19-06-2025
- Business
- Yahoo
Ontario Teachers' fund sells out of the airport business — for now
The Ontario Teachers' Pension Plan Board, a longtime investor in airports overseas, has sold its interests in the last three of them: Birmingham Airport, Bristol and London City Airport, all in the United Kingdom. The buyer is Macquarie Asset Management, and the price was not disclosed by either party. Beginning in the early 2000s, Teachers' gobbled up airports as part of the fund's growing infrastructure portfolio, which was seen as an excellent source for steady returns and a hedge against inflation risk. The global COVID-19 pandemic was challenging, forcing many airports to take on more debt after the virtual halt in air travel in March 2020. Then came the sluggish return to pre-pandemic traffic over many months. The news came on the heels of another airport announcement by the pension fund giant — a pioneer among Canadian institutional investors in the sector — which on June 13 said it was selling its stake in Brussels Airport Co. NV/SA to a Flemish public investment firm. While there have been other international airport sales this year by Canadian pension funds, including the Caisse de dépôt et placement du Québec selling off the last of its stake in London's Heathrow Airport in February, interest has increased in the domestic sector as the Canadian government looks for ways to entice institutional investors — including the country's large pension funds — to invest more at home. Deb Orida, chief executive of the Public Sector Pension Investment Board, said last week that her fund is looking to boost domestic investments and pointed to PSP Investments' expertise in airport infrastructure and operations through subsidiary AviAlliance, which purchased three airports this year in the United Kingdom: Aberdeen, Glasgow and Southampton. 'We have airport operating expertise, and capital to pair with that operating expertise,' Orida said. 'So, if the opportunity were to become available to invest in the Canadian airports, I think we would be very well positioned to do that and do it in a way that adds value not only to our pensioners, contributors and beneficiaries, but also to the users — the passengers of the airport.' Former Bank of Canada governor Stephen Poloz looked at ways to increase Canadian institutional investment in the country's airports last year, when he was tapped to lead a task force charged with boosting domestic pension investments. In March, the federal government laid the groundwork with a new policy statement from Transport Canada that said pension funds can enter commercial subleases to invest in and develop airport lands with the not-for-profit airport authorities that operate 22 major facilities across the country, including Toronto's Pearson International Airport. The statement laid out other avenues for institutional investment as well, including through for-profit share capital subsidiaries created by the airport authorities, which would allow investment on airport lands for developments such as terminals, hotels and shopping centres. The structure of these subsidiaries would allow private investors to buy or be issued shares, so long as the airport authority maintains a controlling interest. A third avenue for investment would allow institutional investors to provide subcontracted services for certain aspects of airport operations. On Wednesday, a Teachers' spokesperson declined to say whether the $266.3-billion pension fund would be interested in airport investments in Canada despite selling off international stakes. '(It's) too early to speculate on where the proceeds will be allocated,' Dan Madge said. He characterized the rapid unloading of airports in Europe and the United Kingdom over the past few months as the culmination of a long, successful run in the sector. 'It was a very good outcome for the fund,' he said. 'Our first investment was in the early 2000s, so it has been a long investment period for us.' Teachers' first investment in U.K. airport infrastructure was in 2001, and it bought direct stakes in the airports in Birmingham in 2007 and Bristol in 2008. Eight years later, Teachers' boosted its U.K. presence with the purchase of a 25 per cent stake in London City Airport, a regional hub for business and vacation travel. Together, the three airports manage tens of millions of passengers annually. Over the years, the Canadian pension giant has also bought and sold stakes in airports in major cities in Australia and Denmark. After Teachers' acquired its stake in Bristol's airport, traffic increased by 72 per cent, with the airport serving more airlines and boasting the fastest recovery among major U.K. airports following the global pandemic. More than £300 million has been invested in the airport over the last decade. Passenger growth at Birmingham increased by 35 per cent to more than 13 million after Teachers' acquired its stake, and more than £425 million has been invested in expansion and modernization over the past 18 years. The expansion included an extension of the runway, the opening of a new pier, a new baggage system, and upgraded security and check-in areas, while multiple new flight routes were added, with some 30 airlines connecting travellers to more than 165 destinations. Meanwhile, more than £600 million was invested in London City Airport to accommodate larger aircraft and expand facilities, with projects including the U.K.'s first remote digital air traffic control tower. Teachers' said the airports under its ownership also played a central role in regional economic growth, collectively contributing more than £3.7 billion in 'gross value added' and 37,600 jobs. 'Each airport plays an important role in its region and, with all currently undergoing expansion (programs), will continue to grow and deliver for their passengers, communities and the broader economy,' said Charles Thomazi, Teachers' senior managing director and head of infrastructure in Europe, the Middle East and Africa. Defence investments will be winners in Trump world: Teachers' CEO Ontario Teachers' Pension Plan says 1.9% return shows portfolio strategy is working 'We are confident that (the airports) will continue to flourish and are pleased to be passing the baton to new investors Macquarie as they support them in the next stage of their growth.' • Email: bshecter@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
