Japanese firms have helped one of Canada’s largest pension plans reach a target in the funding of its infrastructure investment project, as pension schemes across the globe increasingly search for returns from the asset class.

The Ontario Municipal Employees Retirement System, or Omers, which has $55.1bn in assets, has announced the first close of its Global Strategic Investment Alliance. It has raised $7.5bn in association with the Pension Fund Association and a consortium of Japanese firms led by Mitsubishi Corporation.