CVCA Member Profile: Investment Management Corporation of Ontario (IMCO)
We’re continuing our member series on CVCA Central; profiling our members and providing insight into these invaluable organizations in our community.
The latest member we are excited to profile is the Investment Management Corporation of Ontario (IMCO).
Tell us about IMCO.
The Investment Management Corporation of Ontario (IMCO) manages $73.3 billion of assets for our clients. Designed exclusively to drive better investment outcomes for Ontario’s broader public sector, IMCO operates under an independent, not-for-profit, cost recovery structure. We provide leading investment management services, including portfolio construction advice, better access to a diverse range of asset classes and sophisticated risk management capabilities. As one of Canada’s largest institutional investors, we invest around the world and execute large transactions efficiently. Our scale gives clients access to a well-diversified global portfolio, including sought-after private and alternative asset classes.
IMCO’s Private Equity program, representing ~$6 billion of assets, is designed to achieve superior risk-adjusted returns for clients through a differentiated hybrid approach to investing, leveraging long-term relationships with best-in-class strategic partners around the world, with a highly experienced team capable of making direct equity and co-investments. IMCO’s Private Equity team predominantly targets investing in companies in North America and Europe with attractive risk-adjusted returns. In addition, the portfolio seeks to invest across a range of sectors such as industrials, services, consumer, technology/media/telecommunications, healthcare, and financial services.
Who are the key people at IMCO?
The IMCO Private Equity team currently stands at 16 people and is still growing after having doubled since last year. Selected team members include Anastasia Elia and Victor Pang, each profiled below.
Anastasia Elia, Senior Principal:
o Anastasia joined IMCO in 2021. She has over 15 years of capital markets and investment experience specializing in private equity funds and direct investments as well as in fundamental public equities. Previously, Anastasia worked with CPP Investment Board, where she was responsible for leading deal teams in evaluating new and existing fund managers as well as direct and co-investments, developing investment recommendations and leading legal negotiations across various growth and buyout opportunities in North America and Europe. Anastasia lives in Toronto with her family and enjoys spending time outdoors.
Victor Pang, Principal:
o Victor joined IMCO in 2022. He has over 11 years of experience in principal investing, financial advisory and corporate development. Before joining IMCO, he worked at TMX Group, where he was responsible for helping lead corporate strategy & development initiatives for its Capital Formation and TSX Trust business units. Before this, Victor worked at Signal Hill Equity Partners, where he focused on sourcing, evaluating, and executing direct private equity investment opportunities across various industries. Victor began his career in the Investment Banking division at Raymond James, working on several M&A, initial public offering, and financing transactions. Victor lives in Toronto with his wife and two young children and enjoys playing basketball.
What is IMCO excited about?
In the immediate term, we are focused on building expertise across key sectors: Healthcare, Technology, Business Services, Consumer, Industrial and Financial Services. We will be evaluating new buyout, growth and venture capital opportunities inside these sectors. In addition, climate solutions and sustainable investment opportunities are important to IMCO. We are actively considering a broad range of sustainable opportunities (both direct investments and funds) across the climate/energy tech, sustainable food & agriculture, health & wellness, and social & economic mobility verticals.