- What Paul Mouchakkaa has left the Alberta Investment Management Corp.
- Why Mouchakkaa is taking on a senior role with Dallas, Texas.-based Crow Holdings
- What next Former Prime Minister Stephen Harper was appointed to oversee a new board of directors for AIMCo
The Alberta Investment Management Corp.’s head of real estate has left for the private sector – the latest senior leader to depart from the provincial pension fund manager in recent months.
Paul Mouchakkaa exited AIMCo last month to join Crow Holdings, a privately held real estate investor and developer based in Dallas, Texas.
Mouchakkaa, born in Ottawa, was appointed as Crow’s senior managing director and will work out of its Dallas headquarters to establish investment opportunities for the 77-year-old firm.
As AIMCo’s executive managing director, Mouchakkaa oversaw the agency’s estimated $30bn global real estate portfolio, part of some $180bn in overall assets under management controlled by AIMCo as of the end of last year.
Prior to joining AIMCo in 2022, Mouchakkaa was a managing partner for BGO. He has also served as the managing investment director for the California public pension fund manager CalPERS and as a managing director for Morgan Stanley, according to his LinkedIn profile.
Mouchakkaa’s departure is the latest in a series of personnel moves that has seen several top leaders depart AIMCo in recent months.
In February, the pension fund manager’s global head of private assets exited, and agency offices in New York and Singapore were shuttered as part of a cost-saving measure. The previous month, the agency axed 18 roles including the head of its diversity, equity and inclusion program.
Last November, the Alberta government, which oversees the Edmonton-based agency, fired AIMCo’s entire board of directors plus its chief executive officer, Evan Siddall. Ray Gilmour was named interim CEO.
Last week, AIMCo announced the appointment of former chief investment officer Sandra Lau to a newly reconstituted board chaired by former Canadian Prime Minister Stephen Harper.
