Addenda Capital

Roger Beauchemin has served as President and CEO since 2012, having joined the firm in 1999. Investment decisions are executed by dedicated portfolio management teams for each asset class — fixed income, equities, real estate debt, infrastructure, and private credit — operating under an investment committee structure. The firm has not publicly disclosed its full investment committee membership or individual portfolio manager names beyond the C-suite.

Addenda Capital is a wholly owned subsidiary of Co-operators Financial Services Limited, which is part of The Co-operators Group — a Canadian insurance and financial services cooperative. The parent entity is itself owned by a federation of Canadian credit unions and cooperatives. Despite the ownership structure, Addenda operates with its own board of directors, independent investment governance, and separate regulatory registrations as a portfolio manager and exempt market dealer.

Addenda applies ESG integration across all asset classes rather than operating a standalone sustainability fund. The firm brands its fixed-income capabilities as 'Impact Fixed Income,' directing capital toward green bonds, social bonds, and sustainability-linked instruments. The real estate debt team originates mortgages that explicitly assess environmental building performance, and the infrastructure group targets renewable energy and energy-efficiency projects. The May 2024 partnership with the Canada Infrastructure Bank on building retrofits is a direct example of this integrated approach.

Yes. Addenda has a dedicated practice serving First Nations trusts and Indigenous institutional investors in Canada, managing fixed-income and multi-asset portfolios designed for the long-duration liability profiles of settlement trusts and community-owned capital pools. The firm's cooperative parentage and Montreal base have historically underpinned these relationships, though Addenda has not published a full client list or mandate sizes for this segment.

Addenda invests directly in commercial real estate mortgages, infrastructure project equity and debt, and private credit instruments, predominantly in Canada. The infrastructure strategy includes co-investment partnerships — such as the Canada Infrastructure Bank energy retrofit initiative — rather than relying solely on blind-pool fund commitments. The firm does not publicly operate commingled private-market funds for external investors; mandates are typically structured as separately managed accounts or direct balance-sheet deployment for Co-operators' general account and institutional clients.

No. Addenda Capital does not publicly disclose total assets under management or deployment figures. The firm's parent, Co-operators Financial Services Limited, reports consolidated insurance and investment assets, but Addenda's specific AUM is not broken out. This opacity is common among subsidiary asset managers that primarily serve an affiliated insurance balance sheet and a small institutional client base.

Addenda has not published an explicit exclusion list, but its sustainable-investing framework and cooperative parentage imply aversion to tobacco, controversial weapons, and thermal coal — consistent with the norms of Canadian institutional sustainable-investing policies. The firm emphasizes positive ESG integration rather than exclusionary screening as its primary mechanism. No formal negative-screen documentation has been published by Addenda independently of Co-operators Group disclosures.