Fired BlackRock executive Mark Wiseman named chair of AIMCo
TC Energy has agreed to sell a 65 per cent stake in its Coastal GasLink pipeline project to private investment firm KKR and Alberta Investment Management Corporation (AIMCo), the company announced Thursday.
The company said alongside the completion of the sale, it will enter into secured financing with a syndicate of banks to fund up to 80 per cent of the $6.2-billion project's construction.
An internal government document obtained by the Opposition NDP says Alberta would assume an unfunded liability of $133 billion if it left the Canada Pension Plan to create a plan of its own.
It's expected the CPP will be handed over to AIMco just like the teachers pension. The government is forcing the teachers' $18-billion pension fund, the aptly named Alberta Teachers' Retirement Fund (ATRF), to use AIMCo as its sole investment manager rather than invest with any manager it chooses