Alberta Pension Posts Record Year With 66% Private Equity Gain
Alberta Pension Posts Record Year With 66% Private Equity Gain
(Bloomberg) -- Alberta Investment Management Corp. earned a record return in 2021 under a new management team, led by stellar gains in equities and infrastructure.
The firm’s return of 14.7%, almost double its benchmark, brought assets under management to C$168.3 billion ($134.6 billion), according to a statement.
Aimco unloaded a number of its private-equity holdings during the year, including a majority stake in sustainability consultancy ERM Group Inc. to KKR & Co. The private equity portfolio made almost 66% in 2021, though it’s a small portion of Aimco’s assets -- C$8.2 billion as of Dec. 31.
Aimco named Evan Siddall as its new chief executive officer a year ago after it lost C$2.1 billion on a bet against market volatility that blew up when the pandemic hit. Aimco invests on behalf of 32 pension, endowment and government funds in Alberta.
The fund earned a 23.4% return in its C$52 billion public stock portfolio, while infrastructure investments returned 19% and real estate made 14.5%. The fixed income portfolio suffered a small loss as rates increased.
The return figures are from Aimco’s Total Fund and exclude about C$30 billion transferred last year from other funds, according to the statement.
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