AIMCo has hired David Scudellari as a senior executive managing director, reporting to chief executive officer Evan Siddall, from PSP Investments
Alberta Investment Management Corp. has struck an agreement to jointly fund private loans to companies with Public Sector Pension Investment Board after hiring away one of PSP’s top executives.
Though large Canadian pension managers often work side by side on individual deals, AIMCo and PSP’s agreement is an example of unusually close partnership. Neither pension manager disclosed how much money each has earmarked for loans generated under the agreement. But PSP’s platform for direct private loans to companies has grown rapidly since it launched in 2015, and now manages $21.9-billion.
AIMCo invests for 32 pension, endowment and government funds in Alberta at arms-length from government, with more than $160-billion in assets under management. Before Mr. Scudellari joined PSP, he had senior roles at Barclays Bank PLC and Goldman Sachs Group Inc., where he worked with Mr. Siddall, and spent time in Calgary as chief financial officer of North West Upgrading Inc.
Aside from a possible further hire to lead the new Singapore office, AIMCo’s leadership team is now set, according to Mr. Siddall. “We’re basically done,” he said.
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