McMorgan & Company to Sell Its Stake in Exolum
San Francisco, California, June 4, 2026 – McMorgan & Company (“McMorgan”) today announced the sale of its equity stake in Exolum, a Spanish-headquartered global energy logistics company. The sale takes place as part of a broader transaction in which OMERS is divesting its approximately 25% stake in Exolum. Terms are not being disclosed.
Exolum is a Spanish-headquartered global energy logistics company specializing in the transportation, storage and distribution of refined products, bulk liquids and aviation fuels, while playing an increasingly important role in supporting the energy transition. Exolum owns a 4,000km transmission pipeline network in Spain and operates a further 2,000km pipeline network in the UK. The company also owns 68 storage terminals with more than 11 million cubic meters of capacity and serves over 48 airports globally, including Heathrow, Gatwick, Stansted, Madrid, Barcelona, Lisbon, Lima and Charles de Gaulle. This marks McMorgan’s second realization in European energy infrastructure, following its exit from Caruna Networks, a Finnish electricity distribution business, in 2021.
John Santaguida, Chief Executive Officer of McMorgan & Company, said: “This is the kind of realization that illustrates our long-term approach to infrastructure investing: a strong opportunity, an aligned partnership with OMERS, and a decade of successful fund management.”
The transaction is expected to close in Q3 2026, subject to customary closing conditions and regulatory approvals.
About McMorgan & Company
Founded in 1969, McMorgan & Company is a leading investment management firm that seeks to empower confident investment decisions in strategies that diversify, preserve, and effectively grow capital. Today, the firm works with over 200 institutional clients comprising more than $10 billion in assets. McMorgan maintains a diverse investment platform comprised of both traditional and alternative strategies, as well as proprietary branded vehicles.
About OMERS Infrastructure
OMERS Infrastructure manages infrastructure investments globally on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. OMERS Infrastructure manages approximately C$40.9 billion, including capital invested on behalf of OMERS and third parties, in approximately 30 investments located in North America, Western Europe, India and Australia, and across sectors including energy, digital and transportation. OMERS Infrastructure has employees in Toronto, New York, London, Amsterdam and Sydney.
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