LP briefs, March 2007

Teachers’ Private Capital, the investment arm of the Ontario Teachers’ Pension Plan, and the Canada Pension Plan Investment Board have formed Actera Partners, a private equity fund focused on investment opportunities in the Republic of Turkey. As cornerstone investors, the two institutions each have committed about $98 million. The fund will invest in buyouts and other growth deals.

“Turkey is an attractive private equity market, with a large and growing population, a high number of quality mid-market businesses, and a developing economy which is expected to benefit from becoming increasingly harmonized with Europe,” says Jim Leech, senior vice-president of Teachers’ Private Capital.

MassPRIM names advisor

Massachusetts Pension Reserves Investment Management has named Hamilton Lane as its new private equity consultant. The pension fund will pay Hamilton Lane $4.5 million over the next three years. Hamilton Lane won the contract over rival bidders Aldus Equity Partners, Ennis Knupp and Franklin Park. Prior MassPRIM advisor Pathway Capital Management did not submit a bid.

OMERS CEO steps down

Paul Haggis is stepping down as CEO of the Ontario Municipal Employees Retirement System (OMERS). Haggis had served at the helm of the pension fund for nearly four years. OMERS is one of Canada’s largest pension plans, with about $48 billion in assets invested in publicly traded investments, real estate, infrastructure and private equity worldwide. The pension fund said that the move was the result of a mutual agreement between Haggis and the board of directors. —VCJ staff