Alberta Investment Management Corp. Edmonton, committed up to $500 million to D.E. Shaw Renewable Investments, an energy fund managed by hedge fund and alternative investment manager D.E. Shaw Group.
Benjamin Hawkins, AIMCo senior vice president, infrastructure and timber, said in a news release that the D.E. Shaw fund will focus on solar and wind projects in the U.S.
AIMCo, which manages C$90.3 billion ($67.8 billion) in Alberta public pension and other municipal assets, had a 4.6% allocation to infrastructure as of Dec. 31, 2014, according to its latest annual report.
Denes Nemeth, AIMCo spokesman, could not be immediately reached for further details.