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AIMCo Opens Up Shop in London

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Leo de Bever

Leo de Bever, CEO of AIMCo

The Alberta Investment Management Corporation (AIMCo), one of Canada’s largest public asset owners, has opened an office in London. Increasingly, Canadian public investors are setting up offices globally to be closer to their current and potential private investments. The evolutionary trend of public asset owners opening up offices to be near financial centers is an ongoing occurrence in this decade. To name a few institutional investors that have set up operations in London include: Kuwait Investment Authority, Abu Dhabi Investment Authority, GIC Private Limited, CPPIB, Korea Investment Corporation and the Brunei Investment Agency.

AIMCo seeks to augment exposure to investments in private equity, real estate and infrastructure in Europe. AIMCo, along with other Canadian pensions, feel that going direct can reduce the cost of capital on investing in private deals. AIMCo has around US$ 8 billion invested in the U.K. and continental Europe in both public and private markets.

“Alberta Investment Management Corporation is a globally diversified investor with holdings in more than 50 countries and all asset classes,” states Leo de Bever in a press release, chief executive officer. “Our decision to establish a modest presence in London is driven by the efficiencies it affords us in our quest to deliver the best risk-adjusted rate of return on behalf of our Clients.”

Why Did Virtus Investment Partners Buy Sustainable Growth Advisers?

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On February 2, 2018, Virtus Investment Partners, Inc. revealed they acquired a 70% interest in Stamford, CT-based Sustainable Growth Advisers, LP, a high-conviction U.S. and global growth equity portfolio management company, from private equity firm Estancia Capital Management and a portion of equity held by the asset manager’s partners (including Sustainable Growth Advisers’ three co-founders). Scottsdale, Arizona-based Estancia Capital Management bought a minority interest in Sustainable Growth Advisers in August 2013 when it had US$ 5.3 billion in assets. Estancia Capital Management is noted for having a number of partners being from Lovell Minnick Partners LLC, a private equity firm specializing in asset management company buyouts.

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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