OMERS

So Michelle, what are we looking at here?

So here's Catherine McKenna, and she's with the G7 Investors, and these are all the big pensions, like OMERS, Caisse de Depot, CalPERS, Aviva, etc., etc.

This is the Ontario Teachers.

So birds of a feather hang together.

Alberta Investment Management Corporation, the sovereign wealth fund of the petro state, that is Alberta, 200 billion.

Ontario Municipal Employees Retirement System, OMERS, 150.

And then Healthcare of Ontario, HOOP, 130.

So together, we're talking something close to $2 trillion.

We leased the Bruce Nuclear Facility from the province of Ontario through 2064.

Our owners consist of TC Energy, OMERS Pension Plan, and our two unions on site, along with 90% of our employees who are investors in the business.

And currently, we produce about a third of Ontario's electricity from eight reactors.

We're also one of the world's largest producers of made-in-Canada life-saving medical isotopes.

who owns Porter? Is it the bank? Who owns Porter? Porter has several private shareholders.

Our largest institutional shareholder is OMERS, a pension fund, as well.

Duluth Capital, Regco Capital, a number of different equity funds have been invested in Porter since 2005.

And we have the same shareholders today that we had in 2005, 20 years later.

... with the Raptors and, and, um, with the Raptors and Maple Leafs, but, you know, probably would've made a few more bucks if they held on longer.

Uh, but then you had, uh, Larry Tanenbaum sold basically 20% of his equity in, in Maple Leaf Sports & Entertainment to OMERS, uh, another pension fund in Ontario.

Um, and, and so I, I think it's these pension funds are all looking at alternative assets, right? It's, it's part of putting where do we put 5% of our funds.

Hmm.

So Nextera's investor, EDF, Orsted, Ellis Power, Pattern, Intersect, all invested in the company.

And then in the most recent round in the Series B, we raised from Liberty Mutual, Mass Mutual, and OMERS.

And really what we've been trying to do there is align some of the biggest participants in the market on both sides around the platform, which has really helped to accelerate our growth.

Which round was the easiest and the hardest? You know, we benefit from building in this very large space with a lot of opportunity in it.

And so what I mean by that is, um, there's a term in Canada, it's often used elsewhere in the world, The Magnificent Eight, uh, which are like the eight largest pension funds.

So you've got HOOP, uh, OMERS, CPPIB, PSP, uh, Case.

You know, if you look at the size of those pension funds, you know, you're, you're talking in the trillions of dollars, and there just isn't enough real estate if they allocate even 10 to 12%.

There just really isn't enough institutional real estate for them to hold in this market.