TORONTO (Reuters) - Canada’s Alberta Investment Management Corp said on Friday it had acquired a C$520.3 million ($477 million) mortgage portfolio from the Ontario Municipal Employees Retirement System (OMERS).
AIMCO, one of Canada’s largest pension funds with over C$75 billion assets under management, including some C$3 billion in loans, is already a leading mortgage lender.
The acquisition of high-quality, geographically dispersed mortgages fits well with AIMCO’s existing holdings of income producing properties, said AIMCO in a statement.
(1 US dollar = 1.0906 Canadian dollar)
Reporting by Euan Rocha; Editing by Tom Brown