OMERS Pivots to Canada; Blackstone Bets on AI Infra
OMERS CEO Blake Hutcheson said the CAD 145B ($107B) pension is targeting as much as CAD 10B ($7.3B) in incremental Canadian capital deployment over five years, citing a more business-friendly regulatory environment and growing concern over US fiscal trajectory — where the plan currently holds approximately 55% of assets — as the primary drivers. Speaking at the pension's April 23 annual meeting, Hutcheson flagged housing, Toronto office, infrastructure and credit as the primary opportunity sets.
In other LP news, Ventura County Employees' Retirement Association approved a $375M private equity pacing target for 2026, targeting at least 12 commitments for the year, and St. Paul Teachers' Retirement System approved a $16M commitment target for private equity in 2026.
Blackstone reported $69B in Q1 inflows and a record $1.3T in total AUM, flagging AI infrastructure as a central future performance driver across its platform. On the fundraising front, the firm closed its latest life sciences fund at a record $6.3B and reported $12B in commitments toward its new Asia flagship fund's $13B hard cap. Waterland closed its 10th flagship fund and a reinvestment vehicle at a combined €4.6B ($5.38B), both oversubscribed; according to Dakota data, the New Mexico SIC committed $144.3M across the two vehicles.
In people news, The Boston Foundation is conducting a CIO search following the planned departure of George Wilson, who has held the role since 2007; Korn Ferry is leading the search. HESTA appointed Kate Misic as head of portfolio design effective June 15, joining from Telstra Super where she served as acting CIO.
Read on for all the day’s headlines.
CIO Turnover Is Creating a Window in the Endowment Market
Endowment portfolios don’t change often.
But when leadership does, everything gets reviewed.
Dakota has tracked a wave of CIO transitions across the endowment landscape — each triggering a 12–18 month window where manager relationships are reassessed and new allocations are considered.
For investment firms, these moments matter.
They represent one of the few times established portfolios are open to change.
Dakota’s latest report maps these transitions alongside broader trends in allocation, governance, and portfolio construction.
Because in institutional fundraising, timing can matter as much as access.