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Alberta & Prairies  + Canada + Cross Border News  | 

AIMCo Repositioning Portfolio Toward Residential, Retail

The Alberta Investment Management Corporation is aiming to invest more dollars in two sectors as it reallocates its real estate capital.

“The real estate team continues to be focused on repositioning the portfolio and improving quality, while committing capital to long-term resilient sectors such as housing and necessity-based retail,” AIMCo said in its mid-year 2023 investment report.

Edmonton-based AIMCo manages the assets of 17 pension, endowment, insurance and government funds in Alberta. The group had $164 billion in assets under management on June 30, up from $158 billion at year-end 2022.

Marlene Puffer, AIMCo’s chief investment officer, told The Globe and Mail that real-estate-asset performance has been “more muted” this year. In addition to seeking resilience, AIMCo wants to diversify its real estate assets globally as some parts of the office and retail sectors face intense pressure.

“A lot of our activity in real estate is around liquidity and cash management, really thoughtful pacing of any new acquisitions,” she told the Globe.


Inside The Story

Alberta Investment Management CorporationMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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