Canada’s $124 Billion Pension Courts Gulf Funds for Global Deals - Bloomberg
Alberta’s $124 billion investment manager is looking to build ties with sovereign wealth funds in Abu Dhabi as the Canadian firm looks to expand outside its home market and diversify its portfolio.
Alberta Investment Management Co. Chief Executive Officer Evan Siddall said he’s met officials at some of the city’s largest funds to identify opportunities for joint investments in the region and around the world.
“We’re building relationships with the big funds,” Siddall said in a recent interview, declining to name the funds he met. “Infrastructure is one [area] where we’re quite active, and in real estate.”
Aimco, which invests on behalf of 32 pension, endowment and government funds in the oil-rich Canadian province, named Siddall CEO in 2021 after it lost C$2.1 billion ($1.6 billion) on a bet against market volatility that blew up when the pandemic hit. Siddall, former head of Canada’s housing agency, has since overhauled the executive team, including a new chief risk officer and a new investment head.
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