OMERS Growth Equity, the recently launched growth equity arm of C$97 billion ($73 billion) Canadian pension fund OMERS, this month brought on Teresa Lee as a director, Buyouts has learned.
Lee moved to OMERS Growth Equity from OMERS Private Equity, where she worked for 12 years, most recently as a director. Her focus has been healthcare and software PE investments in North America.
Lee was responsible for the execution and oversight of several OMERS PE deals, including healthcare IT provider Logibec, sold to GI Partners in 2015, and news distributor Marketwired, sold to Nasdaq in 2016. She also managed the PE group’s investment in CEDA, an oilfield and industrial services business acquired in 2005.
Before joining OMERS PE in 2007, Lee was with KPMG Corporate Finance, where she focused on acquisitions, divestitures and financings in a range of industries.
Lee is the latest addition to the fast-growing team of OMERS Growth Equity, formed this year to make long-term minority investments in mid-stage companies poised to reshape traditional sectors. Led by Head of Growth Equity Mark Shulgan, hired last year from Canada Pension Plan Investment Board, the group targets opportunities in healthcare, software and other sectors in North America but is expected to eventually invest globally.
Since its launch, OMERS Growth Equity has been actively recruiting senior- and junior-level personnel, Buyouts reported in April. Lee’s appointment brings the team’s directors to three. The others are Lisa Conway, who joined from investment bank PJT Partners, and Warda Shaheen, who was formerly with CPPIB and before then hedge fund Point72 Asset Management.
Other team members include Jason Luo, an associate director, Saar Pikar, an operating adviser and Olivia Aylon, Andrew Lawlor, David Marello and Grant Wallace, all associates.
While setting up shop, OMERS Growth Equity has also been sourcing fresh opportunities. This week, the group closed its first new deal, leading a C$158 million financing of Toronto-based restaurant tech solutions provider TouchBistro. It invested C$85 million.
Action Item: Learn more about OMERS Growth Equity here.