Alberta Investment Management Corporation (AIMCo) and the Public Sector Pension Investment Board (PSP Investments) announced a new commitment to invest in loan transactions sourced by PSP Investments, together positioning the organizations for stronger market presence.
Under this loan sourcing agreement, PSP Investments will source loan investment opportunities for funds earmarked by both organizations. This collaboration will allow both organizations to grow their respective credit investment portfolios.
“Backed by a team of over 40 investment professionals, PSP Investments’ Credit Investments group is a well-established platform with an excellent track-record and we are excited about continuing to source opportunities, especially in this fast-moving environment,” said Deborah K. Orida, President and Chief Executive Officer at PSP Investments. “We look forward to collaborating with AIMCo in launching this new initiative.”
“This collaboration with PSP Investments demonstrates our collective scale and international breadth and gives AIMCo’s clients the opportunity to benefit from this attractive asset class,” said Evan Siddall, Chief Executive Officer at AIMCo. “This is a mutually beneficial endeavor and displays the power of cooperation between two Canadian Maple 8 peers for the betterment of the Canadians each respectively serve.”
AIMCo started investing in Private Credit in 2010 and currently manages C$6.1 billion and has committed $12.5 billion of capital since inception. AIMCo’s Private Credit teams are located in Edmonton, Toronto and London.
PSP Investments launched its credit investment practice (formerly known as private debt investments) in November 2015, and manages C$21.9 billion in net assets under management. From offices in New York, London and Montréal, PSP Investments’ Credit Investments focuses on non-investment grade credit investments in North America and Europe across private and public markets, as well as rescue financing opportunities. PSP Investments’ global team invests across the debt capital structure in the form of loans, bonds and preferred equity, and balances credit quality, structure, fixed-floating deployment opportunity, risk-return profile, asset mix and portfolio diversification, among other considerations.
ABOUT PSP INVESTMENTS
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investment managers with $230.5 billion of net assets under management as at March 31, 2022. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com
ABOUT ALBERTA INVESTMENT MANAGEMENT CORPORATION
AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than $160 billion of assets under management. AIMCo was established on January 1, 2008, with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta. For more information about AIMCo, please visit www.aimco.ca