Montreal-based PSP Investments, which manages $230 billion in federal employee pension plan assets, is teaming up with its Alberta counterpart, AIMCo, to jointly expand their business in the international private debt.
These activities centered on “debt securities” issued by these institutional caliber borrowers amount to $21.9 billion in assets at PSP and some $6.1 billion at AIMCo (or Alberta Investment Management Corporation).
Based in Edmonton, this provincial crown corporation manages $160 billion in assets from the Government of Alberta’s pension plans and various reserve funds.
By partnering with PSP, AIMCo will now be able to participate in debt securities investments that are developed and managed by PSP’s debt securities division in North America and Europe.
Started in 2015, this “Debt Securities” division at PSP now includes some forty professionals divided between its administrative headquarters in Montreal and its offices in New York and London.
The activities of this group at PSP focus on investments in debt securities (loans, bonds, preferred shares, etc.) in the private and public financial markets on both sides of the Atlantic.
“PSP Investments’ Debt Securities group is a well-established platform with excellent results. We are excited to launch this initiative with AIMCo to continue finding opportunities in a rapidly changing environment,” commented Deborah K. Orida, President and CEO of PSP Investments.
At Alberta-based AIMCo, corporate debt and corporate debt market activities are split between its head office in Edmonton and offices in Toronto and London.
In the opinion of its CEO, Evan Siddall, “this collaboration with PSP Investments will provide AIMCo’s clients with the opportunity to benefit from this attractive asset class in a world-class market. »