April 18, 2014 8:49 PM ET

Capital Markets

Company Overview of Public Sector Pension Investment Board

Company Overview

Public Sector Pension Investment Board (PSP Investments) is a government owned pension fund management firm. The firm primarily provides its services to the federal Public Service, the Canadian Forces, and the Royal Canadian Mounted police pension plans. It invests in the public equity markets across the globe and in the public fixed income markets of the United States and Canada. It also makes its investments in the private equity and real estate markets. Public Sector Pension Investment Board was founded in September 1999 and is based in Ottawa, Ontario with an additional office in Montreal, Quebec.

440 Laurier Avenue West

Suite 200

Ottawa, ON K1R 7X6

Canada

Founded in 1999

Phone:

613-782-3095

Fax:

613-782-6864

Key Executives for Public Sector Pension Investment Board

President and Chief Executive Officer
Age: 54
First Vice President and Chief Financial Officer
First Vice President of Real Estate Investments
Vice President of Private Equity
Age: 50
Director of Private Equity
Compensation as of Fiscal Year 2013.

Public Sector Pension Investment Board Key Developments

Ontario Teachers Reportedly Leads To Acquire Telesat

Ontario Teachers' Pension Plan is the front-runner to acquire Loral Space & Communications, Inc. (NasdaqGS:LORL)'s stake in Telesat Holdings Inc. for about $7 billion including debt, people with knowledge of the matter said. The Telesat purchase would come in two pieces: buying publicly traded Loral, which owns 63% of the company, and acquiring the rest from Public Sector Pension Investment Board, which co-owns the satellite operator. Loral could be bought for more than $80 a share, said the people, who asked not to be identified because the talks are private. The shares rose 6.4% to $74.56. Canada Pension Plan Investment Board also has been in talks with both of Telesat’s owners, the people said. Public Sector Pension owns about 37% of Telesat and controls about 67% of the voting rights. As a result, both Loral and Public Sector Pension must agree to a deal for a full sale of Telesat. The discussions signal that Loral’s largest shareholder, Mark Rachesky’sMHR Fund Management LLC, and Public Sector Pension are working together to get a deal completed. The two co-owners of Telesat were previously not talking with each other, making a joint transaction tricky, according to the people. A sale could be announced later this month or in early May, the people said. According to Bloomberg, Michael Bolitho, a Telesat spokesman, declined to comment, as did Deborah Allan, a spokeswoman for Ontario Teachers’ Pension Plan. According to Bloomberg, a representative for Public Sector Pension didn’t respond to requests for comment, while Linda Sims, a spokeswoman for Canada Pension Plan, declined to comment. Apax Partners LLP; Kohlberg Kravis Roberts & Co. (NYSE:KKR); and The Carlyle Group LP (NasdaqGS:CG) had looked at buying Telesat, and all have dropped out of the bidding, the people familiar with the situation said.

Telesat Holdings Reportedly Attracts Investors

Apax Partners LLP, Kohlberg Kravis Roberts & Co. (NYSE:KKR) and Onex Corporation (TSX:OCX) might bid to acquire Telesat Holdings Inc. from Loral Space & Communications, Inc. (NasdaqGS:LORL) and Public Sector Pension Investment Board, according to people with knowledge of the matter. People asked not to be identified because the negotiations are private. The sellers are seeking $6.5 billion in a deal that could be completed by April 2014, one of the people added. Canada Pension Plan Investment Board and The Carlyle Group LP (NasdaqGS:CG) are also allegedly considering to acquire Telesat. The process will be culled to one or two offers in March 2014, the people said. A winning bidder will need to negotiate a deal with both Loral and Public Sector Pension Investment Board. The Toronto Star added that Telesat, Loral, Public Sector Pension, Apax, Canada Pension and KKR declined to comment. A spokeswoman for Onex didn't immediately respond to messages seeking comment.

Telesat Reportedly Explores Sale

Telesat Holdings Inc. is reportedly known to be exploring a sale. Telesat’s shareholder, Loral Space & Communications, Inc. (NasdaqGS:LORL) is known to be working with Credit Suisse Group AG to explore possible options. Loral is understood to be in talks with Public Sector Pension Investment Board about jointly selling their stakes in Telesat. Morgan Stanley is known to be advising Public Sector Pension Investment Board.

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