Ontario Teachers' Pension Plan, Canada's largest single-profession pension plan, has increased its equity holding in listed UK property company Hammerson to 8.9 million ordinary shares, which represents approximately 3.1% of the total share capital. The pension fund also said that it has an additional economic exposure to some 20,250,000 ordinary shares of Hammerson, representing approximately 7.0% of ordinary shares, through cash-settled contracts for differences without voting rights. The fund added that its holding is for long-term investment purposes.
Ontario Teachers' Pension Plan, Canada's largest single-profession pension plan, has increased its equity holding in listed UK property company Hammerson to 8.9 million ordinary shares, which represents approximately 3.1% of the total share capital. The pension fund also said that it has an additional economic exposure to some 20,250,000 ordinary shares of Hammerson, representing approximately 7.0% of ordinary shares, through cash-settled contracts for differences without voting rights. The fund added that its holding is for long-term investment purposes.
As a result, Ontario Teachers, which controls EUR 72 bn (C$109 bn) of assets, now has a 10% stake in the listed UK property company with 3.1% of the shares directly owned and an economic interest in a further 7% through derivative contracts.
John Richards, CEO of Hammerson said: 'We welcome Ontario Teachers, who we know well, as a long term investor. I believe we share a common philosophy towards the real estate market.'
