alberta investment management corporation subsidiaries

Our mission to help keep you safe has never meant more. [21] The Lieutenant Governor of Alberta appoints all members of AIMCo's board. Evercore Partners, a New York based investment bank served as financial advisor to AIMCo. [41], Initially, the fund received 30 per cent of Alberta's non-renewable resource royalties. These asset classes make up 35% of AIMCo's AUM. As a result, AIMCo invests in private equity, public equity, fixed income and private debt. Disclosing its Responsible Investment policies, guiding documents, activities and proxy voting record on its, Local Authorities Pension Plan (LAPP) On March 1, 2019, LAPP's primary oversight role was transferred from Alberta's Minister of Finance to the newly established LAPP Corporation, which under Canadian law, made the LAPP corporation the. ATBSI 2 is a wholly owned subsidiary of ATB Financial and a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF).. Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, has agreed to acquire from Enel Green Power North America, Inc., the U.S. based renewables subsidiary of Enel S.p.A., a 49.0% equity interest in the 115 MW Riverview wind farm and in the 30.6 MW Phase 2 of Castle Rock Ridge wind farm. Although the consortium of investors acquired a majority stake in Hayward, management will retain a minority stake for investor alignment purposes. Pensions plans whose assets are managed by AIMCo include the $50-billion As of 2020[update] on behalf of Local Authorities Pension Plan (LAPP)'s 275,000 members which includes "Alberta's hospital workers and other current and retired government employees,"[1] Special Forces Pension Plan, Employment Pension Plans Act (EPPA), Public Service Pension Plan (PSPP), Management Employees Pension Plan (MEPP), Provincial Judges and Masters in Chambers Pension Plan (Registered) and Supplementary Retirement Plan for Provincial Judges and Masters in Chambers (Unregistered), and the Supplementary Retirement Plan for Public Service Managers. [7][8] The change was made as part of the UCP's 2019 budget presented by Finance Minister, Travis Toews. The Infrastructure and Timberland assets are held to provide inflation hedging and a long-term duration match with client obligations. AIMCo's Responsible Investment processes include: In December 2010, in an AIMCo-led private equity investment, it acquired a 50 per cent interest in Chile's Autopista Central's 61-kilometer, six-lane toll highway in Santiago on behalf AIMCo clients. Bank of America and Houlihan Lokey served as financial advisors on this transaction while Morgan Stanley, Jefferies LLC, and Nomura Group provided financing for the deal. In June 2020, Mark Wiseman was named the new chair of AIMCO. [citation needed], AIMCo signed the United Nations Principles for Responsible Investment (PRI) in 2010. [42] AIMCo works closely with Alberta Treasury Board and Finance to set long-term objectives for the Heritage Fund and implements these objectives through investments in a globally diversified mix of bonds, public and private equities, hedge funds, real estate and other real asset investments, such as infrastructure and timberland. Edmonton, Alberta (February 7, 2018) – Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, is pleased to announce that it has entered into a partnership with Enel Green Power North America, Inc. (EGPNA), the U.S.-based renewables subsidiary of Enel S.p.A. (Enel), for the operations of two renewable energy projects located in Pincher Creek, Alberta. Description Alberta Investment Management is an institutional investment fund managers established as a Crown corporation in 2008 based in Edmonton, Canada. The majority of AIMCo's assets under management come from Alberta public sector pension plans and provincial endowment funds. It is a wholly-owned subsidiary of Yattendon Group, a private company owned by the Iliffe family of Berkshire, England.The Yattendon Group’s four principle operating businesses are local media, agriculture, property, and marine leisure. The AES Corporation (NYSE: AES) today (Nov 17) announced an agreement with Alberta Investment Management Corporation (AIMCo) to merge the sPower development platform, a leading independent solar developer in the US, with AES' US-based clean energy development business to accelerate the safe, reliable transition to cleaner energy solutions in the country. Also in 2016, an AIMCo led consortium of Ontario Municipal Employees Retirement System (OMERS), Ontario Teachers' Pension Plan (OTPP), and Wren House Infrastructure Management Limited (Wren House) acquired the London City Airport. [24] According to AIMCo's 2010/2011 Annual report, the Board of Directors meets six times every year with meetings scheduled one year in advanc[25]:39, AIMCo is headquartered in Edmonton, Alberta with additional offices in Toronto, Ontario, London, UK and Luxembourg. [18]:5, By December 31, 2019 of the total $103.7B, $88.2 B was in balanced funds and $15.5 B was in government and specialty funds. Alberta has a diverse economy, the lowest taxation system in Canada, low energy costs, low costs of running … 08:00 – 16:30, Quality, Environmental and LPCB Certification, Give yourself the gift of peace of mind on Black Friday, Notice to clients: Planned maintenance on riscocloud.com, Hikvision Temperature Screening Solution at Mater Dei. (a) “Act” means the Alberta Investment Management Corporation Act; (b) “chair” means the chair of the board; (c) “senior publicly traded issuer” means a publicly traded issuer that has or had a market capitalization of at least $75 000 000. In the same year, AIMCo, under a landmark transaction, acquired Morgan Stanley Infrastructure Partners 50% interest in the Chilean company from Inversiones Grupo Saesa Limitada (Grupo SAESA). Westminster Management Corporation (WMC) is a private Canadian real estate company. Structure. [36] In a November 4 BNN Bloomberg interview with Amanda Lang, Uebelein said that the purchase was a fit for AIMCo. [citation needed], Illiquid Investments, which constitute 22% of AUM, include long-term holdings in Real Estate, Infrastructure and Timberland. [citation needed], AIMCo operates on a cost-recovery basis. Alberta Investment Management Corporation (AIMCo) is one of Canada's "largest and most diversified institutional investment fund managers"[2] with an investment portfolio of approximately $119 billion"[2] assets under management (AUM) by 2020, focusing on private equity, public equity, fixed income and private debt. Following the addition of the Alberta Teachers' Retirement Fund (ATRF) assets under AIMCo's management through the November 2019 UCP budget Bill 22, the Reform of Agencies, Boards and Commissions and Government Enterprises Act—if passed—AIMCo would become the "investment manager of all public sector pensions". Shaw & Co., a $40 billion New York-based hedge fund where it will provide $500 million in capital to pursue renewable energy investments globally. [39] AIMCo is increasing internal investments in people and technology to achieve greater cost-efficiencies over the next three years. Monday – Friday [citation needed], Equity holdings, which contain both public and private equity, total to 43% (2015) of AUM. The net result is a projected savings of $45 million in operating costs every year, starting in 2012. Through funds like these "Canada is emerging as a world-wide leader in successfully adapting the advantages of large funds to the public sector." ISTC was founded in 2000 and registered as a college in 2012. [19], In 2018 board members included J. Richard Bird as chair, Phyllis Clark, Helen Kearns, Ken Kroner, Jim Prieur, Tom Woods, Sharon Sallows, and Robert Vivian Jr.[18]:44 Talisman Energy's Jackie Sheppard was the newest member, replacing Harold Roozen, who served from 2011 until 2018 when he retired. This is done in order to detect covert eavesdropping devices (also known as bugs) and identify security weaknesses. Alberta TSCM provide a thorough evaluation and survey of facilities such as offices, buildings, vehicles and yachts by technical specialists through visual, electronic and physical searches. ... respecting the application of this Act and the regulations to subsidiaries of the Corporation; AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. [citation needed], The Fixed Income portfolios are managed with the objective of capital preservation, liquidity, and risk-controlled return relative to benchmark. Alberta Investment Management Corporation (AIMCo) is one of Canada's largest and most diversified institutional investment managers with more than $115 billion of assets under management. [9], AIMCo made two loans worth a total of $45 million to Razor Energy, an oil and gas company that paid out dividends to its shareholders with the loan. [37] Northern Courier, which was completed in 2017 has an ongoing contract to ship the Fort Hills Reduced Carbon Life Cycle Dilbit Blend (FRB) to the terminal near Fort McMurray that is owned by Suncor Energy. In 2011 AIMCo divested its stake in Autopista Central to Abertis for about 1.5 billion. These are "arm's-length investment management entities with sufficient scale, independent boards and internal investment management, remunerated at rates competitive with the private sector. AIMCo is still a major stakeholder in this company. [30] This electricity transmission and distribution company is jointly owned by AIMCo and Ontario Teachers' Pension Plan (OTPP). (3) Section 19 of the Act applies to the subsidiary corporation. [1] AIMCo lost $4 billion when the "economic collapse wrought by COVID-19 sent the S&P 500 and other stock benchmarks on a roller coaster ride". In 2016, AIMCo's Infrastructure Private Equity group became the second largest shareholder of Howard Energy Partners, acquiring a 28% stake from EnLink Midstream Partners, LP. The Alberta government proposed in its recent budget that management of the C$18 billion ($13.8 billion) Alberta Teachers' Retirement Fund, Edmonton, be shifted to Alberta Investment Management Corp. Barclays Investment Bank and Citigroup served as co-financial advisors on this transaction. [8], AIMCo lost over $4-billion in the 2020 stock market crash through a "volatility-based investment strategy", in what was called a "blunder" by the New-York based trade publication Institutional Investor,[9] "that follows pension funds". [23] According to the Alberta Investment Management Corporation Regulation board members must have demonstrable expertise in areas such as "investment management, finance, accounting or law" or have held senior executive positions. Collectively known as AIMCo's Balanced Funds, these clients are primarily invested in equities, bonds and inflation sensitive products. Copy text Copy citation Citing documents (0) 2 (1) A corporation to be known as the “Alberta Investment Management Corporation” is established. [1], When AIMCo was created on January 1, 2008, it had a staff of 137. In 2017, AIMCo, in partnership with MSD Capital and CCMP Capital acquired Hayward Industries in 2017. [16]:21 Bird, who retired from Enbridge in 2015, after having served in various executive positions there including as CFO and Executive Vice President, was designated as AIMCo CEO in June 2017—effective on October 21, 2017. Investing in Real Estate since 1925. [38], AIMCo lost much more than "comparable funds" during the coronavirus recession by "investing in contracts that pay off only if stock markets remain stable". Pensions plans whose assets are managed by AIMCo include the Local Authorities Pension Plan (LAPP), Public Service Pension Plan, Special Forces Pension Plan, Employment Pension Plans Act (EPPA), Public Service Pension Plan (PSPP), Management Employees Pension Plan (MEPP), Provincial Judges and Masters in Chambers Pension Plan (Registered) and Supplementary Retirement Plan for Provincial Judges and Masters in Chambers (Unregistered), and the Supplementary Retirement Plan for Public Service Managers. Current Assets for AIMCo is $86,289,300,000 and SWFI has 15 periods of historical assets, 5 subsidiaries, 2,241 transactions, 4 Opportunities/RFPs, 132 personal contacts available for CSV Export. Engaging with companies to effect positive change when possible and collaborate with like-minded investors to influence corporate behavior, rather than divesting of applicable holdings; an approach called "voice over exit". [22], AIMCo was established as a crown corporation by the Province of Alberta to provide independent, arms length investment management services to designated pension funds and provincial public sector bodies and funds, with strong accountability for its investment decisions. Through pooled asset management, these entities achieve sufficient scale to produce significant cost savings through internal investment management and access to alternative asset classes." PTM is also involved in engineering financial packages which suit the clients’ individual needs. [14]:3, According to their 2017 annual report, there was $103.7B assets under management (AUM), 9.3% total fund net investment return, $8.9B net investment income, 10.4% balanced funds net investment return, 3.7% government & specialty funds net investment return. [32][33] AIMCo also entered into a strategic financing agreement with D.E. This represents over a "third of AIMCo's 2019 net investment income of $11.5-billion. Explanatory Notes 1 . By April 2020, AIMCo was managing about "$119-billion on behalf of 375,000 members of provincial public retirement programs as well as public accounts such as the province’s $18-billion Heritage Savings Trust Fund. [citation needed], The Alberta Heritage Savings Trust Fund was created in 1976 by the Alberta Heritage Savings Trust Fund Act[40] with three objectives: "to save for the future, to strengthen or diversify the economy, and to improve the quality of life of Albertans. In May 2019, AIMCo announced that it was acquiring an 85 per cent interest in the $1.15 billion 90-kilometre Northern Courier pipeline system owned by the Calgary-based TC Energy's—formerly known as TransCanada Corporation. ISTC: International Safety Training College. [4] Prior to becoming a Crown corporation in 2008, the corporation's assets were managed by a division of Alberta Finance.[5]. [34] This group, called the Consortium, committed to developing the existing and new airline relationship and routes, improving the airport's customer service and generating opportunities for new and existing employees. [8] The sole shareholder of these plans is the Alberta Minister of Finance. "[26], AIMCo's focuses its investments across three broad categories, Equities, Illiquid Investments, and Fixed Income all employing varying strategies. A crown corporation headquartered in Edmonton, Alberta, AIMCo manages the assets on behalf of "375,000 members of provincial public retirement programs", endowments, government funds, and other public accounts, including Alberta's $18-billion Heritage Savings Trust Fund. [20] Kevin Uebelein was first named as AIMCo CEO to replace outgoing chairman Charles Baillie in 2014. [citation needed], Learn how and when to remove this template message, Ontario Municipal Employees Retirement System, International Forum of Sovereign Wealth Funds, "Alberta pension manager loses $4-billion on investment bet gone wrong", Legislation establishes new provincial corporation to manage Alberta's investments, "AIMCo Posts 7.9% Gross Return for the Latest Fiscal Year", "AIMCo Announces Strong Returns for Clients in 2015", "Union attack on Alberta's pension plans is 'absolute nonsense, "AIMCo's $3 Billion Volatility Trading Blunder", "AIMCo loaned an oil company $45 million, let that company pay out millions to shareholders and now it can't make the interest payments", AIMCo Annual Report 2013: Access to Opportunity, AIMCo Annual Report 2018: Your future is our every day, "Former head of CPP, who was ousted from BlackRock, named chair of AIMCo", "AIMCo Announces Incoming Appointments to Board of Directors and Designation of Mr. Richard Bird as Chair", "AIMCo CEO Leo de Bever succeeded by veteran investment exec Kevin Uebelein: Long-time investment industry executive Kevin Uebelein has been name", "Alberta Investment Management Corporation Regulation", "Research Study on the Canadian Retirement Income System", Canadian Responsible Investment Trends Report 2018, "AIMCo announces sale of Autopista Central toll road in Chile", "AIMCo Completes Aquistion of 50% interest in Grupo Saesa", "Calfrac Well Services legal fight seeks to show Texas billionaires have ulterior motives", "Calfrac announces CDN$200 million debt-with-warrants financing", "Consortium agrees to purchase 100% of London City Airport from Global Infrastructure Partners and Highstar Capital", "AIMCo, Allianz and Hastings successfully bid for Acquisition of Porterbrook", "AIMCo to buy 85 pct of Northern Courier Pipeline in $1.15 bln deal", "Fort Hills-produced oil named for its lower-carbon quality", "Alberta Heritage Savings Trust Fund Act", "About MEPP Section - Management Employees Pension Plan Website", "Provincial Judges and Masters in Chambers Pension Plan", "About SRP Section - Alberta Pensions Services Corporation Website", Government of Alberta departments and agencies, Culture, Multiculturalism, and Status of Women, https://en.wikipedia.org/w/index.php?title=Alberta_Investment_Management_Corporation&oldid=992227147, Financial services companies established in 2008, Investment management companies of Canada, Articles with dead external links from June 2017, Articles with permanently dead external links, Wikipedia articles that are excessively detailed from February 2017, All articles that are excessively detailed, Wikipedia articles with style issues from February 2017, Articles containing potentially dated statements from 2020, All articles containing potentially dated statements, Articles with unsourced statements from November 2019, Articles with unsourced statements from March 2010, Creative Commons Attribution-ShareAlike License. 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