Paul Mouchakkaa Appointed Senior Managing Director, Head of Real Estate of Alberta Investment Management Corporation
Edmonton, Alberta – Alberta Investment Management Corporation (AIMCo) is pleased to announce the appointment of Paul Mouchakkaa to the role of Senior Managing Director, Head of Real Estate. Paul will join the organization effective May 2, 2022.
“AIMCo undertook a comprehensive, global search to identify the highest calibre of real estate leaders to assume responsibility for an asset class that has delivered consistent, long-term value for our clients,” said Evan Siddall. “I am grateful that Paul has chosen to join AIMCo during this important period in our organization’s evolution in support of meeting our clients’ investment objectives.”
“I am honoured to be joining AIMCo and for the opportunity to lead AIMCo’s real estate team,” said Paul Mouchakkaa, incoming Senior Managing Director, Head of Real Estate. “The long-term success achieved in the portfolio is a testament to the deep bench strength of the team. I am excited by the prospects going forward as we navigate a very dynamic real estate sector and to be working with AIMCo’s clients in support of meeting their long-term investment objectives.”
As Senior Managing Director, Head of Real Estate, Paul will lead AIMCo’s Real Estate investment team, currently responsible for a real estate portfolio comprising $18 billion in core domestic and opportunistic foreign program assets, on behalf of AIMCo’s Pension and Endowment clients. Paul will report to James Barber, co-Chief Investment Officer, Head of Private Investments.
“Paul is a well-respected purposeful leader within the real estate investment community whose global experience and strong institutional heritage allows him to naturally take the reins and ensure the continued success of AIMCo’s real estate program,” said James Barber, co-Chief Investment Officer, Head of Private Investments. “AIMCo’s real estate team is coming off one of its strongest years of performance since inception, and I look forward to working with Paul to build on of their momentum.”
“I want to thank Micheal Dal Bello for his deep commitment to AIMCo and to our clients. He joined our organization, then part of Alberta Treasury, in 2000 when there were two members of the real estate team investing a portfolio of $1.3 billion. Over the past 20 plus years, the team has grown to 40 talented individuals in four offices managing nearly $20 billion in client assets. Our entire organization wishes him well in retirement,” added Evan Siddall. Mr. Mouchakkaa succeeds Micheal Dal Bello who retired as Senior Vice President, Real Estate in January 2022.
Paul Mouchakkaa most recently served as Managing Partner, Head of Canada with BentallGreenOak, a position he held since June 2020. With BentallGreenOak, Paul led the Canadian Investment Management team, which is responsible for a $25 billion diversified real estate portfolio made on behalf of 140 Canadian and global investors.
Previously, Paul served as Managing Investment Director and Head of Real Assets for the California Public Employees’ Retirement System (“CalPERS”), a role he held since 2015. At CalPERS, he had responsibility and authority for CalPERS’ $62 billion real asset portfolio; which includes nearly $53 billion in top tier commercial real estate assets and $8 billion in infrastructure assets located across the U.S., as well as in Europe, Asia and the Americas. Prior to his role at CalPERS, Paul was Managing Director and Global Head of Real Estate Research and Strategy for Morgan Stanley from 2011-2015.
Paul is a Canadian citizen, born in Ottawa and has worked in Toronto, Old Greenwich, Connecticut, Los Angeles, and Sacramento. He is an Honours Economics graduate of Carleton University in Ottawa and holds an MBA majoring in Finance from the University of Oregon.
About Alberta Investment Management Corporation
AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than $160 billion of assets under management. AIMCo was established on January 1, 2008, with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 32 pension, endowment, and government funds in the Province of Alberta.