Alberta Investment Management Corp (AIMCo) is considering Singapore over Hong Kong in order to expand its private equity group into Asia. According to the head of private equity and international, Peter Teti, “AIMCo plans to increase its allocation to Asia-based investments and will need staff on the ground to do that. Singapore has clear advantages”.
In an interview, Teti stated “AIMCo will have a pan-Asian strategy as opposed to just, for example, a Chinese strategy. 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”.
As per the 2021 annual report of the Canada fund, 2% of its USD 6.3 billion in private equity assets were in Asia last year. The group invests directly through funds into private deals, including those managed by Baring Private Equity Asia and Fountain Vest Partners Co. AIMCo handles money for multiple pension plans and other government funds from its Edmonton base.