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Alternative Market Briefing

Alignvest IM wants to make individual portfolios look more like a pension

Monday, February 12, 2018

Bailey McCann, Opalesque New York:

When Don Raymond was at the Canada Pension Plan Investment Board (CPPIB) he pioneered a total portfolio style of investing that was global, diversified and designed to work over the long-term. Raymond took that view with him to Toronto-based Alignvest when he left CPPIB in 2014. At the Cayman Alternative Investment Summit, Raymond caught up with Opalesque to discuss what he's working on now.

Opalesque: So, you've been with Alignvest for almost four years. What are you working on now?

DR: I'm excited about the work I'm doing with Alignvest Investment Management. We are creating multi-asset portfolio solutions for high net worth portfolios and accredited investors. The idea builds on what I started with CPPIB. So, the view is similar to what you see at CPPIB and other pensions - diversified investments, global in nature. We are also working on a product that mimics private equity type returns, but that is liquid and invests in listed companies.

Opalesque: Are you able to maintain your investment principles with smaller portfolios or is this a slightly diluted version of what you did at CPPIB?

DR: No dilution. Actually, what's been interesting is we are able to invest in things that wouldn't have worked at CPPIB because they were too small for the pension. So in some ways, we've been able to get more diversification in the portfolio. That's been really exciting. ......................

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