The British Columbia Investment Management Corp. is appointing Chris Weitzel as senior managing director of its fixed income and foreign exchange team, effective March 11, 2024. Weitzel first joined the BCI in 2018 as part of the team that developed and launched the investment organization’s funding program. He succeeds Chris Beauchemin, who’s retiring after 35 […]
The British Columbia Investment Management Corp. is making several appointments on its executive and private equity investment teams. The investment organization is appointing Rechelle Effendy as acting senior vice-president, finance and chief financial officer, effective immediately. On its private equity team, the BCI is appointing Blake Fizzard as senior managing director of global operations, Julian […]
The Caisse de dépôt et placement du Québec is selling 1.3 per cent of the issued and outstanding common shares it holds of insurance provider Intact Financial Corp. The investment organization will sell about 2.3 million shares at a price of $227.10 per share, resulting in gross proceeds of approximately $525 million. Once the transaction […]
Three of Canada’s largest pension plans are among the top 10 pension funds that generated the largest compound annualized returns between 2013 and 2022, according to a report by data platform Global SWF. The report, which measured the compound annual growth rate of pension funds’ single-year investment returns between fiscal 2013 and fiscal 2022, found […]
For institutional investors, valuation reviews will be critical in navigating equity market uncertainties, said Amy Chang, managing director and head of active global fundamental at the British Columbia Investment Management Corp., during the Canadian Investment Review’s 2023 Investment Innovation Conference in November. “I think this focus on business quality and looking at individual opportunities is […]
The Caisse de dépôt et placement du Québec is acquiring Brazil-based power transmission network company Integração Transmissora de Energia in a deal worth $108.5 million. According to a press release, the organization’s framework will be integrated into the investment organization’s existing Latin America power line company Verene Energia, with a network that spans through Brazil […]
The British Columbia Investment Management Corp. is acquiring U.S.-based fiber communications solutions provider Consolidated Communications Holdings Inc. in a joint transaction with private investment firm Searchlight Capital Partners. The acquisition will be worth about US$3.1 billion. The purchase agreement price suggested a 70 per cent premium to Consolidated Communications’ public share price at April 12, […]
A centralized trading approach forms the backbone of the recently revamped British Columbia Investment Management Corp., offering a more protective process for its stakeholders, according to Carmen Firmani, senior manager of client relations at the BCI, speaking during the Canadian Investment Review’s 2023 Risk Management Conference. She detailed the BCI’s transformation from a passive to a […]
The British Columbia Investment Management Corp. is part of an investing group backing a new financial operator from Centerbridge Partners and Wells Fargo & Co. The new entity, Overland Advisors, will oversee the creation of senior secured loans for middle-market companies. The BCI is part of a $2 billion initial equity commitment. “Direct lending provides […]
The British Columbia Investment Management Corp. generated returns of 7.4 per cent during the year ending on March 21, 2022, according to its annual report. During the year, the investment organization’s net assets surpassed the $200-billion mark, rising from $199.6 billion to $211.1 billion. The results were hampered by the Russian invasion of Ukraine and […]