Investment Management

AIMCo's investment management teams ensure assets under management entrusted to AIMCo by its clients are invested strategically and in alignment with their respective investment policies to produce sustainable, long-term investment performance.

Public Equity

AIMCo’s Public Equity group provides core asset class exposure to Canadian and global equity markets. 

The team has well developed processes to develop internally managed strategies as well as hire external managers where necessary. Internally managed investments include quantitative and passive strategies which currently invest in 45 countries around the world. Externally managed investments include long only and hedge fund strategies and are employed in areas where internal management does not offer a competitive or cost advantage. 

The team also employs a rigorous process which allocates capital to individual strategies with the objective of maximizing excess returns while controlling for risk and costs at the total portfolio level. This is followed up with an additional risk management process which ensures that overall portfolio exposures align with expectations.

Money market & fixed income

Fixed Income provides active management of core asset class exposure to Canadian and Global money market and fixed income. Value is added relative to the benchmark through interest rate anticipation, term structure weighting, sector weighting, and individual security selection. The group manages 14 different short, mid and long-term portfolios for both balanced fund and government fund clients.

Mortgages

Mortgages has been involved in mortgage investments for over 20 years and provides mortgage financing for high quality commercial property within Canada. The mortgage portfolio is diversified by both sector and geography.

Private Debt & Loan

Private debt provides debt financing, both senior secured and mezzanine debt for established companies within North America and Europe. The current emphasis is on providing leveraged lending to middle market companies that are supported by private equity investors and where we can have a meaningful role.

 

Private Investments

REAL ESTATE

Real Estate provides exposure to domestic and international real estate through direct holdings diversified across property types and geography. 

The group also invests in opportunity funds and other real estate-related securities. The portfolio consists primarily of direct investments with joint venture partners in high-quality office, retail, industrial and multi-unit residential properties in Canada’s major centers. High-quality core assets with stable returns make up 85% of the total portfolio with the remaining 15% in opportunistic and development positions. 

We also participate in niche market sectors through six externally managed Canadian opportunity funds plus three externally managed funds providing foreign diversification in Mexico, Europe and the U.S. Our current priority is to maintain income levels by retaining tenants on lease rollover. The high quality of our holdings provides some protection against the recessionary impact on rent levels. Dislocation in U.S. and European property markets may provide attractive foreign investment opportunities.

INFRASTRUCTURE

Infrastructure acquires and manages long-term equity positions in OECD-based infrastructure assets. These assets typically provide essential services to the public, have an operating history and are either regulated or have highly contracted revenues with the potential for long-term capital appreciation. 

Infrastructure investments include utilities, energy/power (generation, transmission and distribution networks, pipelines) and transportation (toll roads, airports, seaports). The group primarily makes direct investments in infrastructure but will also selectively consider externally managed funds.

Timberlands

Timberlands acquires and manages equity interests in timberland, timber leases, timber harvesting rights and related assets that generate revenue primarily from the sale of logs. Timberlands has a global mandate and actively invests both in externally managed funds and directly in assets alongside funds or within equity consortia. 

Timber is a long-term and inflation-sensitive asset. Wood is a very versatile material with a wide range of applications that, over time, have contributed to generating returns that keep pace with inflation. Since our financial leverage levels are low, we have the flexibility to defer harvest until markets for timber improve. Waiting is not an issue since the trees will continue to grow in size and our investments will continue to grow in value.

Private Equity

Private equity manages a growing portfolio of C$4.5 billion in assets, primarily through Funds and Direct investments.

Funds: We selectively invest with the world’s leading private equity firms and build deep, lasting relationships with our partners.

Directs and Co-Investments: We make direct buyout investments in North America and Western Europe, often alongside our valued Fund relationships, but also with other like-minded institutions. We invest across a broad range of sectors including: consumer, industrials, business services, financial services, technology and healthcare. As a permanent capital manager, we can be flexible with our investment period to optimize value creation irrespective of short-term economic cycles.

The Private Equity group is supported by professionals in our Toronto, Edmonton and London offices.

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