Pensions and Benefits

Ontario Pension Board in the outsourcing of its investment management operations to a $60 billion new investment management entity, the Investment Management Corporation of Ontario (IMCO)

Ontario Pension Board
Key Contact
Paul Litner

Partner, Pensions and Benefits, Toronto

Team
John Black

Partner, Corporate, Toronto

John Groenewegen

Partner, Corporate, Toronto

Simon Hodgett

Partner, Technology, Toronto

Andrew MacDougall

Partner, Corporate, Toronto

Jack Silverson

Partner, Tax, Toronto

 

Osler advised OPB on the outsourcing of its investment management to a new statutory investment management entity known as IMCO, which was created by the Government of Ontario in July 2016. The outsourcing involved the negotiation of comprehensive investment management and governance/support agreements among OPB, IMCO and the Workplace Safety and Insurance Board (WSIB). OPB is one of IMCO’s founding members and was involved from the earliest stages of development and implementation of IMCO along with the Ontario Government and WSIB.

IMCO officially commenced operations on July 24, 2017, with approximately $60 billion in combined pension and institutional assets of OPB and WSIB under management, and will offer investment management and advisory services to Ontario’s broader public sector.

OPB administers Ontario's Public Service Pension Plan, a defined benefit pension plan serving approximately 42,000 active members and their employers, as well as more than 43,000 retired and former members.

Osler Hoskin & Harcourt LLP acted for OPB with a team consisting of Paul Litner, Anna Zalewski (Pensions & Benefits), Jack Silverson (Tax), John Groenewegen, John Black, Andrew MacDougall, Lori Stein (Corporate), Shelley Obal (Research), Simon Hodgett (Technology), and Jason Hanson (Employment & Labour).    

 

Value
$60 billion
Date Closed
1 July 2016
Lead Office
Toronto
Key Contact
Paul Litner

Partner, Pensions and Benefits, Toronto

Team
John Black

Partner, Corporate, Toronto

John Groenewegen

Partner, Corporate, Toronto

Simon Hodgett

Partner, Technology, Toronto

Andrew MacDougall

Partner, Corporate, Toronto

Jack Silverson

Partner, Tax, Toronto