Government Operations committee  In the world of unions, there are two categories of unions. There are unions that work for the public sector and there are unions that work for the private sector. We manage capital for unions that work for the private sector. These are trade unions that literally work with buil

Government Operations committee  I must admit that it's not really an area of my expertise. I really get involved in the P3s when government has decided to take the path of P3. That question is best suited for the consultants who help government make its decisions. I think Ms. Mullen is one of them. I know that

Government Operations committee  Yes, sir, no problem.

Government Operations committee  You can divide the pension funds in Canada many ways. One way to divide them is by what I call the super-sovereign pension plans. They are, going from west to east, bcIMC, AIMCo, OMERS, Ontario Teachers', CDPQ, and CPP. These are pension plans that have $50 billion and up under m

Government Operations committee  Yes. I want to go back to the earlier question on the value for money. Ultimately, there is competition for every single PPP procurement in Canada. There are typically three bidders and sometimes more. Basically, in this competition you evolve to become competitive or ultimatel

Government Operations committee  They're safe in the sense that on the other end of the contract you have government paying the bills, so you have some revenue certainty. Now, there is risk associated with that. You have to make sure that your builder is competent. You have to make sure that your operator is com

Government Operations committee  There are three components to every project from the private sector. First, there is the construction component: the builder produces a price to build the asset and he prices for risk. That risk price would be there even if it weren't a PPP. If the government hired a builder, the

Government Operations committee  It's interesting. We were recently involved in a project in Chile. Scotiabank introduced us to the opportunity. We teamed up with EllisDon, one of Canada's largest vertical builders. We also brought in Export Development Canada. We also brought in the Ontario Pension Board pensio

Government Operations committee  This is all on the public record. You can go to the Ontario government. They can show you the analysis. This is the type of analysis that's available.

Government Operations committee  Currently we are following a project in Ottawa where, for the energy systems that provide energy services to a number of federal buildings in Ottawa, the government is now considering whether it wants to use a PPP model to basically update and seek services from these assets for

Government Operations committee  Yes, I can. Thank you.

Government Operations committee  The Toronto South Detention Centre is a provincially sponsored internment facility. It's one of the largest in Canada. It holds 2,000 individuals. The Government of Ontario, at that point, decided to procure this facility through a PPP concession agreement that allowed the privat

Government Operations committee  Yes. Thank you very much, Mr. Chairman. I'm just going to briefly introduce myself and our organization so you can get some perspective on where we fit into the PPP sector. We're a private money manager. We manage money on behalf of Canadian pension plans. Our clients include s

Government Operations committee  Yes, very well, thank you.