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Asset/Investment Management
hoopp.com

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Investments

13

Portfolio Exits

2

Partners & Customers

4

About HOOPP

The Healthcare of Ontario Pension Plan (HOOPP) provides a lifetime pension plan at retirement. Created in 1960, HOOPP is a multi-employer contributory defined benefit plan for Ontario's hospital and community-based healthcare sector with 548 participating employers. HOOPP's membership includes nurses, medical technicians, food services staff and housekeeping staff, and many other people who work hard to provide valued Ontario healthcare services.

HOOPP Headquarters Location

1 York St Suite 1900

Toronto, Ontario, M5J 0B6,

Canada

416-646-6445

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Latest HOOPP News

Home affordability and rising interest rates are threatening retirement security for young adults: 2022 Canadian Retirement Survey from HOOPP and Abacus Data

Jun 23, 2022

Toronto, Ontario, CANADA TORONTO, June 23, 2022 (GLOBE NEWSWIRE) -- Economic factors like rising inflation and interest rates are threatening Canadians’ retirement security, according to the 2022 Canadian Retirement Survey from Healthcare of Ontario Pension Plan (HOOPP) and Abacus Data. The outlook is particularly troubling for those under the age of 35, whose barriers to home ownership and savings capacity – both of which have a strong impact on retirement security – are increasingly challenged by these economic conditions. In the survey of 1,716 Canadian adults, 55% said they were concerned about having enough in retirement, which was up six points from last year. Other top concerns impacting retirement security were the day-to-day cost of living (66%), which was up 11 points, “income keeping up with inflation” (62%) and “housing affordability” (56%). “Retirement and savings concerns have been high every year we’ve done the Canadian Retirement Survey, and now they’re being exacerbated by rising interest rates and inflation,” said Steven McCormick, SVP, Plan Operations, HOOPP. “Well over half of Canadians expect these factors to cause financial challenges and force them to retire later. At the same time, funding retirement through the sale of a home is becoming a less viable strategy for many individuals. It raises the question of whether Canada’s younger generations are headed for a perfect storm on retirement security.” Saving for retirement top priority – but a third have saved nothing Saving for retirement is the number two priority amongst Canadians, with 53% citing it (affording the day to day was number one, at 62%), but many are struggling to accomplish it. Thirty-two per cent of working Canadians said they have yet to save anything for retirement, and 38% said they have saved nothing for retirement in the past year. Nearly half of Canadian homeowners are planning to rely on the sale of a home to set themselves up for retirement (45%), but that plan is becoming increasingly risky in the current environment. In addition to the high levels of concern over current housing affordability, 58% of non-homeowners said they are worried about what interest rates will do to their ability to buy a home. And an equal number of homeowners are worried about others’ ability to buy their home as they approach retirement. “The general outlook for retirement security in Canada is darkening,” said David Coletto, CEO of Abacus Data. “Seventy-five per cent of all Canadians agree there is an emerging retirement crisis in Canada and 72% feel that saving for retirement is prohibitively expensive – both up seven points over last year. And if current trends continue, it will be tougher for younger generations.” While concerns are widespread across age groups, the situation is worse for Canadians aged 18 to 34. Compared to Canadians 35+, those in this younger group are less likely to own a home (47% vs. 67%) or have savings over $5,000 (54% vs. 61%). Seventy-five per cent of non-homeowners 18 to 34 are worried about the impact of interest rates on their ability to buy a home, and an equal proportion of homeowners in that age group are worried about their ability to afford current/future mortgage payments. Better pensions needed – 82% agree McCormick added: “Savings challenges are more acute for younger adults, but there is an agreement across generations that an important solution to the problem is better workplace retirement savings plans, and that everyone has a role to play on this front”: 82% of Canadians agreed that all workers should have access to a pension that guarantees a percentage of their working income in retirement. Sixty-six per cent are willing to pay for this access themselves by accepting a slightly lower salary in exchange for a better (or any) pension. 77% agreed that all employers should be required to contribute in some way towards pensions for all workers, and 74% agree governments could save money by supporting pensions that are more efficient. 83% agreed that without good pension plans at work, many Canadian seniors will experience poverty and 77% said workers without pensions will become a burden on the taxpayer. “Previous HOOPP research with employers, as well as our own members, has confirmed that good workplace retirement savings plans reduce financial stress and elevate peace of mind for workers of all ages,” McCormick added. “And this in turn improves productivity for employers.” These findings are based on a survey conducted online with 1,716 Canadians aged 18 and older from April 21 to 27, 2022. The margin of error for a comparable probability-based random sample of the same size is +/- 2.35%, 19 times out of 20. The data is weighted according to census data to ensure that the sample matches the Canadian population according to age, gender, educational attainment, and region. About the Healthcare of Ontario Pension Plan: HOOPP serves Ontario’s hospital and community-based healthcare sector, with more than 620 participating employers. Its membership includes nurses, medical technicians, food services staff, housekeeping staff, and many others who provide valued healthcare services. In total, HOOPP has more than 420,000 active, deferred and retired members. HOOPP operates as a private independent trust, and is governed by a Board of Trustees with a sole fiduciary duty to deliver the pension promise. The Board is jointly governed by the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses’ Association (ONA), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees' Union (OPSEU), and the Service Employees International Union (SEIU). This governance model provides representation from both management and workers in support of the long-term interests of the Plan and its members. About Abacus: Abacus Data is an innovative, fast-growing public opinion and marketing research consultancy. They use the latest technology, sound science, and deep experience to generate top-flight research-based advice to clients. They offer global research capacity with a strong focus on customer service, attention to detail and exceptional value. Abacus is the only research and strategy firm that helps organizations respond to the disruptive risks and opportunities in a world where demographics and technology are changing more quickly than ever. To learn more visit:  abacusdata.ca Contact:

HOOPP Investments

13 Investments

HOOPP has made 13 investments. Their latest investment was in Greencross Vets as part of their Corporate Minority on March 3, 2022.

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HOOPP Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/22/2022

Corporate Minority

Greencross Vets

Yes

2

3/10/2022

Series E

Marlette Funding

$225M

Yes

4

3/1/2022

Series E

Visby Medical

$100M

Yes

18

2/1/2022

Series D

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$99M

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10

1/4/2022

Private Equity - III

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$99M

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10

Date

3/22/2022

3/10/2022

3/1/2022

2/1/2022

1/4/2022

Round

Corporate Minority

Series E

Series E

Series D

Private Equity - III

Company

Greencross Vets

Marlette Funding

Visby Medical

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Amount

$225M

$100M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

4

18

10

10

HOOPP Portfolio Exits

2 Portfolio Exits

HOOPP has 2 portfolio exits. Their latest portfolio exit was Better.com on May 10, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/10/2021

Acq - Pending

$99M

6

12/16/2020

IPO

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$99M

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10

Date

5/10/2021

12/16/2020

Exit

Acq - Pending

IPO

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

6

10

HOOPP Acquisitions

1 Acquisition

HOOPP acquired 1 company. Their latest acquisition was AusNet Services on February 16, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

2/16/2022

$99M

Take Private

5

Date

2/16/2022

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Take Private

Sources

5

HOOPP Partners & Customers

4 Partners and customers

HOOPP has 4 strategic partners and customers. HOOPP recently partnered with MARK on December 12, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

12/5/2018

Partner

United Kingdom

Mark Gamble, Head of Asset Management. Meyer Bergman/HOOPP Joint Venture Sells Nová Karolina Shopping Centre in Czech Republic.

Cushman & Wakefield and Savills advised the Meyer Bergman and Healthcare of Ontario Pension Plan joint venture on the sale of Nová Karolina .

1

9/14/2017

Partner

United States

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10

9/12/2017

Partner

Canada

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10

9/12/2017

Partner

Canada

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10

Date

12/5/2018

9/14/2017

9/12/2017

9/12/2017

Type

Partner

Partner

Partner

Partner

Business Partner

Country

United Kingdom

United States

Canada

Canada

News Snippet

Mark Gamble, Head of Asset Management. Meyer Bergman/HOOPP Joint Venture Sells Nová Karolina Shopping Centre in Czech Republic.

Cushman & Wakefield and Savills advised the Meyer Bergman and Healthcare of Ontario Pension Plan joint venture on the sale of Nová Karolina .

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Sources

1

10

10

10

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