March 27, 2014
Victoria, B.C. – The British Columbia Investment Management Corporation (bcIMC) announced today the intention to establish its first foreign office in London, United Kingdom.
“We consider the UK and Europe to be an important market with long-term growth opportunities,” said Doug Pearce, Chief Investment Officer / Chief Executive Officer, bcIMC. “Having a bcIMC presence in London reflects our global focus. It will strengthen our existing relationships with investment partners and enhance our ability to commit patient capital within European markets and in so doing, grow the long-term financial value of our clients’ funds.”
With a global portfolio of $110 billion, bcIMC is one of Canada’s largest institutional investment managers. By establishing a presence in the UK, bcIMC will enhance its global reach and gain invaluable access and strategic insight into one of the principal business locations in the world, as well as the number one destination for inward investment into Europe. As a leading international financial center, an on-the-ground presence in London will provide long-term benefits to bcIMC and its clients.
The London team will include local and Canadian investment professionals and will support bcIMC’s private and public market investment programs. bcIMC has approximately $12.4 billion invested in infrastructure, real estate, and public and private equity investments in the UK and European markets. These include investment interests in Thames Water, Open Grid Europe, a German retail portfolio, and Canary Wharf.