Alberta Investment Management

What Alberta Investment Management does

Alberta Investment Management Corporation (AIMCo) is a Crown corporation of the Province of Alberta, established under the Alberta Investment Management Corporation Act and headquartered in Edmonton, Canada. It invests on behalf of Alberta public sector pension plans (including the Local Authorities Pension Plan, Alberta Teachers' Retirement Fund, Management Employees Pension Plan, Public Service Pension Plan, Special Forces Pension Plan, Universities Academic Pension Plan, and Provincial Judges' plans), endowment funds (notably the Alberta Heritage Savings Trust Fund), insurance funds (Workers' Compensation Board – Alberta, Credit Union Deposit Guarantee Corporation), and provincial government operating funds. As of December 31, 2025, AIMCo managed $194.7 billion CAD in total client assets and reported a Balanced Fund net investment return of 7.6% for 2025, equating to $13.1 billion in net returns.

AIMCo's core offering is a multi-asset-class institutional investment management platform organized around five main product lines — Fixed Income, Public Equities, Real Estate, Infrastructure & Renewable Resources, and Private Equity — supplemented by Mortgages and Private Debt & Loan modules. The platform spans over 45 public-equity markets and direct/co-investment operations across infrastructure and real estate globally. The firm operates from seven offices (Edmonton, Calgary, Toronto, London, Luxembourg, New York, and Singapore) and has active wholly-owned or majority-controlled operating subsidiaries including Cando Rail & Terminals (rail infrastructure), Howard Energy Partners (87% owned, midstream energy), Pacific Northern Gas (jointly controlled, natural gas distribution), Kimberley Meat Co, and Yeeda Pastoral Company (Australian beef). Strategic GP relationships with Blackstone, AlpInvest, Seraya Partners, Ridgeback Group, Alpine Grove Partners, and WPT provide programmatic deal flow in private markets.

AIMCo generates revenue through investment-management fees charged to its institutional clients under custom mandates; it does not serve retail investors. The Board's governance was overhauled in late 2024 with the appointment of Stephen J. Harper as Chair following the dismissal of the prior board by the Government of Alberta, and the executive ranks have been substantially refreshed, including the appointments of Ray Gilmour (permanent CEO, December 2025), Justin Lord (CIO, July 2025), and Kelly Featherstone (Chief Client Relations Officer, March 2026).

Name

Alberta Investment Management

Legal name

Alberta Investment Management Corporation

Website

https://aimco.ca

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

Alberta Investment Management Corporation (AIMCo) is a Canadian Crown corporation that manages $194.7B CAD in assets for Alberta public sector pension, endowment, insurance, and government fund clients across multiple asset classes and global offices.

Ownership category

akta.pro rank

Product category

Institutional Asset Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

akta.pro secondary industries

Core Infrastructure Funds (Transport, Social, Digital, Utilities) (FSANAEAA), Real Assets — Real Asset Fund Platforms / Multi-Asset Real Assets (Diversified Real Assets Funds) (FSAHAIAM)

Keywords

• Institutional asset management
• Pension fund management
• Investment management services
• Endowment fund management
• Public sector investing

Headquarters

HQ city

Edmonton

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Investment Management Fees: AIMCo generates revenue through investment management fees charged to its institutional clients for managing their pension, endowment, insurance, and government fund assets. As a Crown corporation of the Province of Alberta, AIMCo operates on behalf of its clients and does not charge individual investors directly.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Alberta Investment Management Corporation (AIMCo) is a Crown corporation investment manager that provides institutional investment management services to public sector pension plans, endowment funds, government funds, and insurance funds in Alberta. It manages diversified portfolios across multiple asset classes including fixed income, public equities, real estate, infrastructure and renewable resources, private equity, mortgages, and private debt. As of December 31, 2025, AIMCo managed $194.7 billion CAD in assets on behalf of its institutional clients.

Product overview

AIMCo operates as an institutional investment management corporation offering a diversified suite of investment products and services across multiple asset classes. The core offering includes Fixed Income, Public Equities, Real Estate, Infrastructure & Renewable Resources, and Private Equity as primary investment strategies. These are complemented by specialized Mortgages and Private Debt & Loan modules that provide capital preservation and inflation protection. The company manages investments for pension, endowment, insurance, and government fund clients in Alberta, with assets under management of $194.7 billion as of December 31, 2025.

Differentiator

Problem solved

Functional benefit

Products and services

• Fixed Income

Quantifiable outcome

• 7.6% balanced fund net investment return in 2025, equating to $13.1 billion in net returns
• +2 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and major.

• Yeeda Aggregation (Kimberley Meat Company, Yeeda Station)coreStrategic or Co-development Partner · 19 August 2024AIMCo agreed to acquire the Yeeda Aggregation including Kimberley Meat Company, Yeeda Station, and Kimberly Property Portfolio in Western Australia to establish a vertically integrated beef production and processing operation.
• Howard Energy Partners (HEP)coreStrategic or Co-development Partner · 8 November 2022AIMCo acquired an additional stake in Howard Energy Partners, increasing its ownership to 87 percent. The transaction aligns AIMCo's portfolio with its energy transition strategies and confirms its long-term partnership with HEP.
• AlpInvest PartnersmajorStrategic or Co-development PartnerGlobal private equity fund partner for AIMCo's Private Equity Fund strategy, investing selectively with world's leading private equity firms across North America, Europe, and Asia.
• BlackstonemajorStrategic or Co-development PartnerGlobal private equity fund partner, one of AIMCo's key private equity relationships for fund investments.
• Seraya PartnersmajorStrategic or Co-development PartnerCo-investment partner in Cyan Renewables' acquisition of MMA Offshore, positioning Cyan as the largest offshore energy service vessel provider in Asia Pacific.
• Ridgeback GroupcoreStrategic or Co-development PartnerUK-focused Build-to-Rent residential investor, developer, and operator. AIMCo partnered with Ridgeback Group to aggregate a portfolio of over 3,350 apartments in UK cities.
• Alpine Grove PartnersmajorStrategic or Co-development PartnerPartnered to access Aurelis, one of Germany's largest industrial real estate operators with a portfolio in Southwest Germany's key hubs.
• WPT (Westport Transport)majorStrategic or Co-development PartnerProgrammatic joint venture with WPT providing access to a pipeline of high-quality logistics developments across key US markets, including a 1.2 million square foot Class A distribution facility in Phoenix, Arizona.

Scale indicators19 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Healthcare of Ontario Pension Plan (HOOPP): HOOPP manages pension benefits for Ontario healthcare workers with a long-duration liability profile and global multi-asset class mandate including fixed income, equities, real estate, and infrastructure. It is a direct peer to AIMCo as another Canadian DB pension OCIO with comparable scale, governance structure, and risk-balanced investment approach.
• OMERS: OMERS manages retirement benefits for Ontario municipal employees through a global, multi-asset class investment platform including public markets, private equity, infrastructure, and real estate. It is a direct peer to AIMCo given the comparable Canadian public pension mandate, scale, and direct global investing capability.
• New Brunswick Investment Management Corporation (NBIMC): NBIMC manages pension and trust fund assets for the Province of New Brunswick across multiple asset classes with global exposure. It is a direct peer to AIMCo as a smaller but structurally identical Canadian provincial Crown institutional asset manager serving pension plan clients.
• Ontario Teachers' Pension Plan (OTPP): OTPP is one of Canada's largest single-profession public pension managers, investing across public equities, fixed income, private equity, infrastructure, and real estate with a global office footprint. It is AIMCo's most direct functional peer — same asset class breadth, same Canadian public-sector OCIO mandate, same global direct investing model — and competes for the same top-tier investment talent.
• British Columbia Investment Management Corporation (BCI): BCI manages pension, insurance, and trust fund assets for British Columbia public sector clients across fixed income, public equities, real estate, infrastructure, and private equity. It is a direct peer to AIMCo as another Canadian provincial Crown asset manager with a comparable institutional OCIO mandate and diversified multi-asset class approach.
• PSP Investments: PSP Investments manages pension assets for Canada's federal public service, armed forces, RCMP, and Reserve Force on a long-horizon global mandate across public and private markets. It is a direct peer to AIMCo given the same Crown-mandated Canadian public pension OCIO role, comparable AUM scale, and global direct investing platform.
• Caisse de dépôt et placement du Québec (CDPQ): CDPQ manages Québec public and parapublic pension and insurance funds with a globally diversified portfolio across public markets, private equity, infrastructure, and real estate. It is a direct peer to AIMCo as another Canadian Crown-mandated institutional asset manager with comparable scale, asset class breadth, and direct investing focus.
• Canada Pension Plan Investment Board (CPPIB): CPPIB is Canada's largest pension investment manager, managing CPP contributions on a multi-generational, global mandate across all major asset classes. AIMCo mirrors CPPIB's structure as a Canadian institutional asset manager with a long-duration horizon, scale-driven direct investing capability, and global office network — making it the closest peer in operating model.

Broad incumbents

• Ontario Municipal Employees Retirement System (OMERS) — already listed; substitute with Abu Dhabi Investment Authority (ADIA): ADIA is one of the world's largest sovereign wealth funds, managing Abu Dhabi's excess oil reserves across a globally diversified portfolio of public equities, fixed income, private equity, infrastructure, and real estate. It is broadly comparable to AIMCo as a long-horizon, multi-asset class global institutional investor — Michael Sheridan's prior role as Deputy Head of U.S. Equities at ADIA underscores the talent pool overlap.
• Norges Bank Investment Management (NBIM): NBIM manages Norway's Government Pension Fund Global — the world's largest sovereign wealth fund — with a long-duration, globally diversified mandate. While its fund structure is sovereign rather than pension, it is highly comparable to AIMCo in operating model, scale, asset class breadth, and global direct investing platform, and competes for similar investment talent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights8 records

Customer concentration

• LinkedInlinkedin.com/company/alberta-investment-management-corporation-aimco-
• Xx.com/aimcoinvests

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments19 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alberta Investment Management