Universities Academic Pension Plan

Universities Academic Pension Plan

The Universities Academic Pension Plan was established in 1978 under Alberta legislation to deliver retirement, disability, and survivor benefits. It operates as a jointly-trusteed plan with participating employers that include the University of Alberta, University of Calgary, University of Lethbridge, Athabasca University, and Banff Centre. The plan targets a 5 percent allocation to private equity while holding 10.77 percent in the asset class. It invests through the AIMCo Private Equity Pool, AIMCo Real Estate Pool, AIMCo Infrastructure Pool, and AIMCo Timberland Pool. Confirmed holdings include positions in the Coastal GasLink Pipeline and multiple AIMCo-managed vehicles. Geographic exposure spans Canada, the United States, Australia, New Zealand, Latin America, and emerging markets in Brazil and Colombia. Assets under management stand at $7.4 billion. The plan employs external managers including PineStone Asset Management, Fiera Capital, Beutel Goodman, Connor Clark & Lunn, Leith Wheeler, and North of South Capital for public equities and fixed income. Chris Schafer was appointed Chief Executive Officer on April 1 2024, succeeding Dave Schnore who retired in March 2024 after twelve years. Nancy Walker serves as Chair of the Board of Trustees. The plan maintains membership in the Pension Investment Association of Canada. The plan is structured as a multi-employer defined-benefit vehicle governed by a board of trustees drawn from participating universities. Investment execution is delegated to AIMCo for alternatives and to a roster of external managers for public markets, creating separation between plan governance and day-to-day portfolio management.