Omers’ private equity head Redman steps down

Mark Redman, who has been global head of private equity since 2015, made a personal decision to leave the organisation

Omers Private Equity, the buyout arm of one of Canada’s largest defined benefit pension plans, has appointed Michael Graham as its new head.

Graham, previously head of the North American private equity business at Omers, will replace Mark Redman, who the firm said “made a personal decision to leave the organisation” on 31 March.

Redman joined Omers in 2009 to establish its European private equity business. He was then promoted to global head in 2015 and has overseen the private equity arm’s growth to manage C$14.2bn in assets.

In an interview with Private Equity News and Barron’s last month, Redman said the firm would focus on growing investments in private credit and bring its private equity and venture capital arms more closely together.

Graham joined Omers in 2003, before moving to New York to set up an office in the city in 2009. He said he will “remain focused on identifying promising new investment opportunities, in North America, the UK, Europe and across the globe, as well as enhancing the performance of our directly-held portfolio of world-leading businesses”.

“On behalf of Omers, we sincerely thank Mark for his long service, commitment to our organisation and his visionary leadership,” said Satish Rai, chief investment officer. “Michael Graham is an outstanding leadership choice for the next chapter of private equity investing at Omers. His investing track record and genuine approach will be tremendous for our team globally.”

Founded in 1962, The Ontario Municipal Employees Retirement System has more than C$97bn in net assets, investing and administering pensions for more than half a million members. The pension plan announced the appointment of Blake Hutcheson as its chief executive in December, taking over from Michael Latimer.

Source: Financial News

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