Meeting Summary

Investment Committee - June 13, 2017

Extension of GSIA Investment Period

The original Global Strategic Investment Alliance program was approved by the OAC Board in mid-2012 for a five-year investment period; however, as a result of interest expressed by certain GSIA members in addition to other strategic benefits, OMERS Private Markets proposed an extension of the program.  

Following a question and discussion period, the Investment Committee approved the extension of the investment period in the GSIA program until December 31, 2017 and delegated to the OAC CEO the authority to further extend the investment period through one or more extensions to a date that is no later than January 1, 2019.

Acquisition of Minority Stake in National Veterinary Associates

OMERS Private Equity sought the approval of the Investment Committee to acquire a minority stake in National Veterinary Associates (NVA). NVA is the largest independent owner-operator of veterinary hospitals, pet boarding and daycare centers in the United States, Canada, Australia and New Zealand. 

Following a presentation and question/discussion period, the Investment Committee approved the acquisition. OMERS and OMERS Private Markets announced the acquisition of a minority stake in National Veterinary Associates in a press release dated July 6, 2017.

Additional Transaction

The Investment Committee also considered an additional pending investment transaction; however, due to legal and contractual reasons, the decision is required to be kept confidential.