AIMCo plans Singapore office

SingaporeCanadian fund manager Alberta Investment Management Corp (AIMCo) is planning to open an office in Singapore as part of a global expansion of its private equity business. The firm’s head of private equity and international Peter Teti told Bloomberg that it expects to increase its allocation to Asia-based assets and therefore needs to expand its presence on the ground. The choice of location for its Asian hub was apparently down to either Hong Kong or Singapore but it was the latter country that had “clear advantages” according to Teti. It is also better suited to AIMCo’s plan to develop a pan-Asia investment strategy as opposed to one focused on single countries.   "Singapore seems to be a potentially logical place to have a base through which you can invest across Asia and that will include Australia, New Zealand as well," said Teti. AIMCo would be joining a number of Canadian pension funds that have set up operations in Singapore in recent years. This includes Ontario Teachers' Pension Plan, the Caisse de Depot et Placement du Quebec and OMERS, an Ontario pension fund. © 2022 funds global asia

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