Two undisclosed buyers split the stake as the fund simultaneously closes a A$1 billion Australian dollar bond offering
OMERS moved on two fronts in a single week, offloading a decade-old infrastructure holding and tapping international debt markets, signalling active portfolio rotation at one of Canada's largest pension funds.
OMERS agreed to sell its roughly 25 percent stake in Spanish energy logistics company Exolum, splitting the position between European real assets firm Stoneshield Capital and an unnamed global investor, according to a joint statement released Friday.
Stoneshield will acquire 15 percent, adding to a close to 5 percent position it took in January 2026, Reuters reported.
A second buyer, identified only as a global investment firm managing over US$100bn in assets, will take the remaining 10 percent.
Financial terms were not disclosed.
OMERS and its partners have held Exolum since 2016, according to Stoneshield.
Stoneshield said the Spanish-headquartered company owns a 4,000 km transmission pipeline in Spain, operates a 2,000 km network in the UK, and generates over €1.3bn in annual revenues.
It also serves more than 48 airports globally, including Heathrow, Madrid, and Charles de Gaulle.
Both transactions are expected to close in the third quarter of 2026, subject to regulatory approvals.
Luca Lupo, senior managing director and head of Europe at OMERS Infrastructure, said Exolum has become "a stronger, more diversified and increasingly international business" over the past decade, and that the sale reflects the fund's approach to capital rotation.
Separately, OMERS Finance Trust (OFT) closed a A$1.0bn, 10-year Australian dollar note offering guaranteed by OMERS Administration Corporation, rated AAA/Aa1/AAA by S&P, Moody's and Fitch.
The notes, OFT's second AUD offering as an SSA issuer, priced at a yield of 5.764 percent, or 75.3 basis points over the equivalent Australian government bond, and mature May 20, 2036.
Commonwealth Bank, RBC Capital Markets, TD Securities and UBS acted as joint lead managers.
Australian investors took 38 percent of the offering, followed by Asia at 25 percent, EMEA at 21 percent, the UK at 11 percent and the Americas at 6 percent.
OMERS said asset managers absorbed 55 percent of the deal, with central banks and official institutions taking 33 percent.
