Key Takeaways
- • OMERS hired Michael Hill from Canada Pension Plan Investment Board as global head of infrastructure, effective September 2023, to oversee a $34 billion portfolio across 30 assets in North America, Europe, and Asia-Pacific.
- • Hill brings 25 years of investment banking experience from Nomura Securities, Deutsche Bank, and Morgan Stanley, plus leadership of CPPIB's New York office and sustainable energies business in the Americas.
- • OMERS Infrastructure portfolio delivered 12.5% returns in 2022 and averaged 10.2% annually over the past five years, with recent activity including acquisitions in transportation, digital infrastructure, and renewable energy, offset by divestitures including its Scotia Gas Networks stake in Britain.
- • Hill reports to Ralph Berg, who became chief investment officer in April 2023, succeeding Annesley Wallace, who departed to join energy infrastructure company TC Energy Corp.
- • OMERS Infrastructure operates 90+ investment professionals and has appointed Luca Lupo as senior managing director and head of Europe, indicating concurrent restructuring of regional leadership.
Summary
Ontario Municipal Employees Retirement System (OMERS) has recruited Michael Hill from Canada Pension Plan Investment Board to assume the role of global head of infrastructure, a strategic leadership change announced Wednesday with Hill commencing in September 2023. The appointment places Hill in control of a $34 billion infrastructure portfolio spanning 30 assets across North America, Europe, and the Asia-Pacific region, supported by more than 90 investment professionals.
Hill's appointment follows the departure of previous infrastructure head Annesley Wallace, who left OMERS in April 2023 to join energy infrastructure company TC Energy Corp. Hill will report to Ralph Berg, OMERS' chief investment officer since April 2023. At CPPIB, Hill served as head of the New York office and led the sustainable energies business across the Americas. His professional background includes 25 years in investment banking roles at Nomura Securities, Deutsche Bank, and Morgan Stanley, providing extensive transaction experience and strategic expertise relevant to infrastructure deployment.
OMERS Infrastructure has demonstrated solid performance under previous leadership. The portfolio returned 12.5% on investments in 2022 and averaged 10.2% annually over the preceding five years. Recent transactional activity reflects a diversified acquisition strategy spanning transportation, digital infrastructure, and renewable energy sectors, while simultaneously optimizing holdings through targeted divestitures such as the sale of its Scotia Gas Networks distribution utility interest in Britain. Ralph Berg, commenting on the hire, noted Hill's "impressive track-record, extensive transaction background and significant experience in business strategy and sustainable energy."
Complementing the global infrastructure leadership transition, OMERS Infrastructure has appointed Luca Lupo as senior managing director and head of Europe, indicating concurrent restructuring of the fund's European operations and aligning with the broader organizational changes underway in 2023.
Hill's appointment follows the departure of previous infrastructure head Annesley Wallace, who left OMERS in April 2023 to join energy infrastructure company TC Energy Corp. Hill will report to Ralph Berg, OMERS' chief investment officer since April 2023. At CPPIB, Hill served as head of the New York office and led the sustainable energies business across the Americas. His professional background includes 25 years in investment banking roles at Nomura Securities, Deutsche Bank, and Morgan Stanley, providing extensive transaction experience and strategic expertise relevant to infrastructure deployment.
OMERS Infrastructure has demonstrated solid performance under previous leadership. The portfolio returned 12.5% on investments in 2022 and averaged 10.2% annually over the preceding five years. Recent transactional activity reflects a diversified acquisition strategy spanning transportation, digital infrastructure, and renewable energy sectors, while simultaneously optimizing holdings through targeted divestitures such as the sale of its Scotia Gas Networks distribution utility interest in Britain. Ralph Berg, commenting on the hire, noted Hill's "impressive track-record, extensive transaction background and significant experience in business strategy and sustainable energy."
Complementing the global infrastructure leadership transition, OMERS Infrastructure has appointed Luca Lupo as senior managing director and head of Europe, indicating concurrent restructuring of the fund's European operations and aligning with the broader organizational changes underway in 2023.
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