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OMERS buys minority interest in Canadian investment company

The Ontario Municipal Employees Retirement System, or OMERS, has bought a minority interest in Purpose Investments Inc., an employee-owned Canadian investment company that offers ETFs, mutual funds and closed-end funds.

Purpose in a separate post said talks with OMERS began two years ago, and that the pension fund had stood out as "a long-term and patient partner," in comparison with the "numerous strategic and capital partners" that had previously reached out.

In addition, Purpose has repurchased NexC Partners Corp.'s stake in the company.