# HEB Manitoba

HEB Manitoba is a Pension Fund based in Winnipeg, Canada.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Winnipeg, Canada
- **Region:** North America
- **Address:** 900-200 Graham Avenue, Winnipeg, Manitoba R3C 4L5, Canada
- **Founded:** 1997
- **Assets under management:** 7712 (Altss estimate)
- **Website:** hebmanitoba.ca
- **LinkedIn:** https://ca.linkedin.com/company/heb-manitoba

## Regulatory record

- **Reports private funds:** No

## About

HEB Manitoba was established in 1997 to deliver pensions and benefits to eligible healthcare workers in the province. The plan operates under an independent Board of Trustees with input from participating unions and employers. The plan deploys capital across real estate, infrastructure, private equity and private credit. Real estate holdings include mandates with Brookfield Asset Management Real Estate and TD Asset Management. Infrastructure exposure reaches Europe and North America through commitments to Macquarie Infrastructure and Real Assets and KKR Global Infrastructure. Private equity and private credit programs remain in early deployment stages with a current private equity allocation of 0.94 percent against a 5.4 percent target. Geographic reach covers Canada and international markets. The organization employs 51 professionals at its Winnipeg headquarters. It maintains memberships in the Pension Investment Association of Canada and the Principles for Responsible Investment. October 2024: Held its Annual Meeting reporting on 2024 investment performance and strategic plan redesign. Governance rests with separate boards for the pension plan and benefits plan, each appointed by unions and employers including the Manitoba Nurses Union and Shared Health Manitoba. This structure separates investment oversight from benefit administration.

## Sectors

- Real Estate
- Infrastructure
- Private Equity
- Private Credit

## People

- Kelly Poole — Chief Executive Officer
- Ronald Queck — Chief Investment Officer
- Matt McLean — Chair of the Healthcare Employees' Pension Plan Board of Trustees

## Questions

### Who runs investment decisions at HEB Manitoba?

Kelly Poole serves as Chief Executive Officer and Ronald Queck serves as Chief Investment Officer. The Board of Trustees for the Healthcare Employees' Pension Plan provides oversight.

### Does HEB Manitoba participate in fund commitments or only direct deals?

The plan makes fund commitments and co-investments through external managers. Confirmed relationships include Brookfield, KKR, Macquarie and Northleaf.

### What asset classes does HEB Manitoba target?

Allocations cover real estate, infrastructure, private equity and private credit. Real estate represents the largest disclosed exposure at approximately $980 million.

### Where does HEB Manitoba invest geographically?

The plan invests in Canada and international markets. Infrastructure holdings span Europe, North America and other regions.

### How does HEB Manitoba incorporate ESG factors?

The firm evaluates investments through multiple perspectives including ESG and focuses on material factors that affect risk and return over the investment horizon.

### Which service providers support HEB Manitoba operations?

KPMG and Deloitte act as auditors. BNY Mellon and CIBC Mellon serve as custodians. Towers Perrin and Eckler Partners provide actuarial services.

### Is HEB Manitoba a member of industry associations?

The plan belongs to the Pension Investment Association of Canada, the Association of Canadian Pension Management and the Principles for Responsible Investment.

## Related profiles

- [Ahold Delhaize Pension Fund](https://altss.com/profile/ahold-delhaize-pension-fund)
- [East Riding Pension Fund](https://altss.com/profile/east-riding-pension-fund)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/healthcare-employees-pension-and-benefits-plans-of-manitoba

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology