Dale MacMaster, who until recently served as executive vice president, public market investments at the Alberta Investment Management Corporation (AIMCo), will now be responsible for investing the approximately C$75 billion (€52.5 billion; $59.4 billion) in assets the organisation manages on behalf of its clients, AIMCo said in a statement.
MacMaster will report directly to Kevin Uebelein, who was recently appointed chief executive (CEO) of AIMCo, succeeding founding CEO Leo de Bever.
“Leo de Bever previously held both CEO and CIO roles at AIMCo,” the firm's spokesperson Denés Németh said in an e-mailed response. “When Kevin Uebelein joined as CEO, he felt an organization of our scale and complexity required a dedicated CIO to oversee the C$75 billion in assets entrusted to AIMCo by our clients,” he explained.
In his most recent position with the firm, which he has held since 2012, MacMaster has been responsible for AIMCo’s fixed income and money market, public equities, mortgages and private debt & loan investment teams.
“Dale has been with AIMCo and its predecessor for over 15 years,” Uebelein said, referring to Alberta Investment Management, formerly a division of Alberta Treasury Board and Finance, which managed AIMCo's assets before the organisation was created in 2008.
“He knows our business and, most importantly, he is a proven successful investor who understands our clients and their unique needs,” Uebelein said. “Under his leadership, Dale’s teams have demonstrated consistent performance and been a source of investment thought leadership within our organization.”
Founded in January 2008 by the government of Alberta, AIMCo now serves 27 pension, endowment and government funds in the province. As of December 30, 2013, it had C$74.7 billion in assets under management, achieving a 14 percent net return for pension and endowment clients and a 4 percent return for its government and specialty fund clients.
The firm invests across all asset classes. In terms of infrastructure, AIMCo’s investments include utilities, energy and power (generation, transmission, distribution, pipelines) and transportation. Its most recent transaction was the acquisition – in partnership with Allianz Capital Partners and Hastings Funds Management – of Porterbrook, a UK rolling stock leasing company, for an undisclosed amount.
The market value of AIMCo’s infrastructure portfolio at the end of 2013, the latest figure available on the firm’s website, stood at C$3.37 billion.