The Ontario plan joins Brookfield and Axight on the A$27 billion manager’s register
OMERS has agreed to buy an indirect minority stake in Australian lender La Trobe Financial and helped complete a €662 million Dutch refinancing.
The Ontario pension plan announced the two deals this week. It held C$151.6 billion in net assets as of June 30.
A stake in Australian private credit
Brookfield said OMERS will acquire an indirect minority interest in La Trobe through a Brookfield private equity vehicle. Neither the size nor the price of the stake was disclosed. Brookfield keeps majority ownership. OMERS joins Abu Dhabi-based Axight, which bought its own minority stake earlier this year at a US$2.1 billion valuation. The deal is expected to close in the first quarter of 2027, subject to regulatory approvals.
La Trobe’s assets under management have reached A$27 billion, up from A$22 billion at the end of 2025, Brookfield said.
“La Trobe Financial continues to deliver impressive results and we have strong conviction in the business’s long-term prospects,” said Shiv Gupta, Brookfield Private Equity’s head of Australia.
Alexander Fraser, OMERS’ global head of private equity, said the investment reflects the plan’s “continued commitment to growing its presence in Australia.”
La Trobe CEO Chris Andrews called it “a strong vote of confidence in La Trobe Financial, our people and the platform we have built over more than seven decades.”
Australian private credit is under closer watch. In September 2025, the regulator ASIC placed interim stop orders on two La Trobe retail accounts. It lifted them within days after La Trobe revised its target market determinations. The Reserve Bank of Australia is also reportedly preparing for higher private credit defaults, based on documents the Australian Financial Review obtained.
Refinancing at Kenter Groendus
OMERS and APG, acting for Dutch pension fund ABP, completed a €662 million refinancing of Kenter Groendus, their jointly owned energy infrastructure platform. The financing sits under a new common terms platform. It was twice oversubscribed, the owners said.
The lenders included DNB, LBBW, Export Development Canada, Société Générale, ABN Amro, SEB, Rabobank, RBC and Macquarie Asset Management, an OMERS spokesperson told Infralogic. Earlier this month, 3i Infrastructure refinanced peer Joulz with €585 million from six banks, Infralogic noted.
Kenter Groendus offers medium-voltage infrastructure, metering, solar PV, battery storage, EV charging and energy management. It was formed by merging Kenter and Groendus, which the pension investors bought in 2022.
“The strong support from lenders reflects the quality of the business and its long-term role in supporting the energy transition,” said Luca Lupo, OMERS Infrastructure’s head of Europe.
Jean-Pierre van Lieshout, the company’s CFO, said the refinancing provides “a solid foundation to continue supporting our customers in the years ahead.”
OMERS said the deal follows refinancings at Oncor (US$290 million), Exolum (€770 million) and Bruce Power (C$1.5 billion).
For pension investors, the deals show one plan using minority stakes and joint ownership to expand abroad. OMERS held 15% of assets in Europe and 8% in Asia-Pacific and other regions at mid-year.
