AIMCo, PSP Investments collaborate to invest in loans

Alberta Investment Management Corp., Edmonton, Alberta, and the Public Sector Pension Investment Board, Montreal, will jointly commit to invest in loan transactions sourced by PSP Investments, according to a joint news release Monday.

Under the agreement, PSP Investments will source loan investment opportunities for funds “earmarked by both organizations,” in a collaboration that will allow both firms to grow their respective credit investment portfolios, the news release said.

AIMCo began investing in private credit in 2010 and currently manages C$6.1 billion ($4.5 billion) and has committed C$12.5 billion of capital since inception.

“This collaboration with PSP Investments demonstrates our collective scale and international breadth and gives AIMCo’s clients the opportunity to benefit from this attractive asset class,” said Evan Siddall, CEO at AIMCo, in the release.

PSP Investments started its credit investment practice — formerly known as private debt investments — in November 2015, and currently manages C$21.9 billion in net assets under management, the release added.

PSP’s credit investments focus on non-investment-grade credit investments in North America and Europe across private and public markets, as well as rescue financing opportunities.

PSP had a total of C$230.5 billion in assets under management as of March 31.

AIMCo has more than C$160 billion in assets under management.