Pension fund manager OMERS says it has signed an agreement to acquire British-based recruiting firm Alexander Mann Solutions in a deal valued at about $1.4 billion.
OMERS invests and administers pensions for members from municipalities, school boards, emergency services and local agencies across Ontario.
Alexander Mann Solutions, based in London, England, helps business clients recruit and retain talent through multi-year contracts and has more than 100 clients in 85 countries.
The company says OMERS will help it grow and drive consolidation in what remains a large but fragmented market.
The transaction is subject to customary approvals and is expected to close in the second quarter of 2018.
OMERS had more than $95 billion in net assets as of the end of the 2017.