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Kevin McDowell leaves AIMCo for Alberta Teachers

Kevin McDowell has left Alberta Investment Management Corp (AIMCo) after nearly 14 years with the institutional investor.

McDowell joined the Alberta Teachers’ Retirement Fund Board’s private equity program as a senior principal in June, according to his LinkedIn profile. He was previously a senior principal in the private equity program for AIMCo, where he worked from August 2000 to May 2014, the profile states.

It’s not clear if AIMCo has replaced, or plans to replace, McDowell. AIMCo spokesman Dénes Németh declined to comment on the matter.

AIMCo is one of Canada’s largest institutional investment managers, with more than $75 billion of assets under management, and is responsible for the investments of 27 pension, endowment and government funds in Alberta, according to its website.

AIMCo has been on the lookout for a new chief executive to replace outgoing CEO Leo de Bever, who joined the organization in 2008.

Alberta Teachers’ private investment program is led by Rakesh Saraf. Update: Saraf previously served as head of AIMCo’s private equity operations between 2000 and 2009, according to his LinkedIn profile.

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