{"id":20256,"date":"2020-11-20T09:01:09","date_gmt":"2020-11-20T14:01:09","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/psp-investing-1b-in-specialty-insurer-omers-in-hvac-company-152943"},"modified":"2020-11-20T09:01:09","modified_gmt":"2020-11-20T14:01:09","slug":"psp-investing-in-reinsurer-omers-aquiring-hvac-company","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/11\/20\/psp-investing-in-reinsurer-omers-aquiring-hvac-company\/","title":{"rendered":"PSP investing in reinsurer, OMERS aquiring HVAC company"},"content":{"rendered":"
\n
<\/div>\n<\/p><\/div>\n

Staff<\/span> | November 20, 2020 <\/p>\n

The Public Sector Pension Investment Board is part of a group investing $1 billion in Convex Group Ltd., a specialty insurer and reinsurer.<\/p>\n

In April 2019, Convex launched with $1.7 billion of committed capital. Its initial invested capital was raised from its management team, Onex Partners V, the PSP and a consortium of co-investors. The additional capital has been committed by the original investors, as well as multiple new investors. <\/p>\n

\u201cWe are pleased to continue our successful partnership with Onex and Convex by supporting the company\u2019s accelerated growth strategy,\u201d said Martin Longchamps, managing director of private equity at the PSP, in a press release. \u201cThe Convex management team has established an agile, world-class specialty insurer with a strong operational foundation. This transaction is in line with our strategy of making sizeable, direct investments in high-quality companies alongside experienced partners.\u201d<\/p>\n

Read: PSP Investments acquiring Copenhagen real estate<\/a><\/strong><\/p>\n

In other investment news, the Ontario Municipal Employees Retirement System\u2019s private equity arm is acquiring Kentucky-based TurnPoint Services, a provider of residential services, including heating, ventilation and air conditioning.<\/p>\n

\u201cOver the last 15 years, OMERS private equity has successfully executed on a strategy of partnering with top management teams at industry-leading companies to support accelerated growth,\u201d said Mark Dolfato, senior managing director for the private equity arm, in a release. \u201cTurnPoint is a great fit for this strategy, with its leading brands and the strength and experience of its leadership team.\u201d<\/p>\n

Read: OMERS selling stake in Detroit rail tunnel<\/a>
<\/strong><\/p>\n

Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Staff | November 20, 2020 The Public Sector Pension Investment Board is part of a group investing $1 billion in Convex Group Ltd., a specialty insurer and reinsurer. In April 2019, Convex launched with $1.7 billion of committed capital. Its...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20256"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20256"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20256\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}