Investment leadership restructuring
CIO Rossitsa Stoyanova to step back; three executive managing director roles to be created from January 2027.
Pension Fund
Not-for-profit, cost-recovery investment manager pooling assets for Ontario's broader public sector.
IMCO was incorporated in July 2016 under the Investment Management Corporation of Ontario Act, 2015 and began commercial operations in July 2017, with the Ontario Pension Board and WSIB as founding clients. It manages investments for Ontario public-sector pension plans and other public organizations on an independent, not-for-profit, cost-recovery basis, offering portfolio construction advice, access to public and private asset classes and total-portfolio risk management. About one-third of its assets are invested in Canada; recent mandate wins include the City of Hamilton's legacy pension plans in 2026.
2 open roles4 deals6 people30 sources
C$21.2B (23% of the portfolio at end-2025) mixing passive market exposure with active and 'Fundamental+' concentrated stakes, plus external managers; returned 19.1% in 2025.
Middle-market buyout investing in North America and Europe through a hybrid model that pairs fund commitments with no-fee, no-carry co-investments roughly one-to-one, using secondaries to manage liquidity.
Single actively managed allocation spanning public and private credit (corporate, structured and real-asset), with an emphasis on private and high-yield credit.
Direct investments and co-investments with managers, using flexible structures such as minority and preferred equity and writing both small and large cheques; recent deals span energy midstream, transport equipment leasing and data centres.
Globally diversified commercial, multi-residential and industrial portfolio with active asset management and value-add investing, plus fund commitments such as KingSett's ninth growth fund.
Internally managed government, inflation-linked and money-market portfolios that provide liquidity and capital preservation.
A team embedded in the wider investments function alongside the asset classes, strategy and total portfolio management, led by Polina Sims, Managing Director, Head of Investment Strategy, Sustainability and Asset Management. The strategy runs on three pillars — insights, capital deployment and value creation — under a net zero commitment made in 2022 and a published Climate Action Plan.
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From the inside
Reasons that work in interviews
4 reasons for IMCO
The newest of the Ontario pools, so the investment platform is still being constructed and early people shape it.
Multi-client structure means managing money for several public sector organisations rather than one plan, which changes how mandates are set.
Smaller team than its Toronto peers, so proximity to senior investors is higher.
Building out direct and co-investment capability, so the trajectory is the argument rather than the current size.
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Winter 2027
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President and Chief Executive Officer
Senior Executive Team
Leads IMCO's strategy and growth. He was previously President and CEO of Infrastructure Ontario, and before that ran Scotiabank's North American infrastructure advisory business as a managing director. Holds law degrees from Duke and Queen's and a BA from McGill.
Chief Investment Officer
Investments
Leads IMCO's investment team, including portfolio construction, asset allocation and strategic partnerships; IMCO announced in August 2026 that she will remain CIO through January 2027 before becoming a special advisor. Previously headed portfolio design and construction at CPP Investments and worked on power-sector acquisitions at GE Energy Financial Services. Kellogg MBA.
Senior Managing Director, Head of Total Portfolio & Capital Markets and Chief Strategist
Total Portfolio & Capital Markets
Leads IMCO's top-of-the-house functions, including research and economics, portfolio construction and strategic asset allocation, total portfolio management and fixed income and currency management; he joined in 2020 and is due to become Executive Managing Director, Total Portfolio in January 2027. Previously a senior portfolio manager at BCI, chief strategist and global head of FX strategy at RBC Capital Markets, and a CIO at Scotiabank. CFA charterholder.
Senior Managing Director, Head of Private Equity and Global Credit
Private Equity and Global Credit
Joined IMCO in 2020 as a managing director in private equity and now oversees both private equity and global credit; he is slated to become Executive Managing Director, Private Markets in January 2027. Earlier spent nine years leading PE and credit deal teams at Manulife Capital and was a principal at McKenna Gale Capital. CFA and CPA.
Senior Managing Director, Head of Public Equities
Public Equities
Runs IMCO's global equities strategies after joining in 2020 from Ontario Teachers' Pension Plan, where he spent close to 20 years on the global active equities team. Due to become Executive Managing Director, Public Equities in January 2027. CFA charterholder and professional engineer.
Managing Director, Head of Infrastructure
Infrastructure
Runs active management of IMCO's global infrastructure portfolio, leading a team that invests directly, co-invests with managers and uses strategic partnerships. Before IMCO he was CEO of Pulse Clean Energy, a U.K. grid-scale battery storage developer, and earlier held senior roles at Enbridge. McGill economics graduate.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
Jan 2027Upcoming
Rossitsa StoyanovaAppointment
Special Advisor
IMCO → IMCO
Announced 2026-08-07: Stoyanova will stay on as CIO through January 2027 and then become Special Advisor to IMCO; the CIO's accountabilities will be split among three new executive managing directors reporting to the CEO.
Jan 2027Upcoming
Nick ChamiePromotion
Executive Managing Director, Total Portfolio
IMCO → IMCO
Will report to the CEO and join the senior executive team under the new investment leadership structure.
Jan 2027Upcoming
Craig FergusonPromotion
Executive Managing Director, Private Markets
IMCO → IMCO
Takes on a broader private markets remit reporting directly to the CEO.
Jan 2027Upcoming
Angus BotterellPromotion
Executive Managing Director, Public Equities
IMCO → IMCO
Joins the senior executive team reporting to the CEO as part of the post-CIO restructuring.
Aug 17, 2026
KingSett Real Estate Growth LP No. 9
Limited partner · Real estate
Buyer IMCO
$300 million fund commitment to KingSett's ninth growth fund, targeting Canadian industrial, multi-residential, office and retail property mainly in Toronto, Vancouver and Montréal.
Jul 20, 2026
Pembina Gas Infrastructure Inc.
Co-investor · Midstream energy (gas gathering and processing)
Buyer Apollo-managed funds with co-investors including IMCO
IMCO co-invested $300 million alongside Apollo funds, which acquired a 40% stake in PGI; Pembina Pipeline keeps 60% and remains operator.
Jul 14, 2026
TIP Group (25% minority interest)
Co-investor · Transportation equipment leasing (infrastructure)
Buyer IMCO and GCM Grosvenor · Seller I Squared Capital
Definitive agreement for IMCO and GCM Grosvenor to buy a 25% stake in the Amsterdam-based European trailer and transport equipment leasing platform from I Squared Capital.
Sep 23, 2024
Scala Data Centers
Co-investor · Digital infrastructure (data centres, Latin America)
Buyer Coatue Tactical Solutions and IMCO
IMCO provided US$250 million of a US$500 million structured financing for the Brazil-based hyperscale data centre platform, expanding its digital infrastructure strategy.
CIO Rossitsa Stoyanova to step back; three executive managing director roles to be created from January 2027.
IMCO was selected to manage about C$300M covering three legacy City of Hamilton pension plans.
IMCO and GCM Grosvenor agreed to acquire 25% of TIP Group from I Squared Capital.
Covers IMCO's 2025 result, its C$90.7B AUM and the role of public equities versus softer private markets.
U.S. trade coverage of the 2025 result; the headline AUM figure is in U.S. dollars (C$90.7B).
IMCO's strongest performance since inception; AUM rose to C$86B from C$77.4B.
IMCO joined Coatue in a US$500M structured financing for the Latin American data centre operator.
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IMCO · Aug 17, 2026 · imcoinvest.com
IMCO · Aug 7, 2026 · imcoinvest.com
IMCO · Jul 30, 2026 · imcoinvest.com
IMCO · Jul 20, 2026 · imcoinvest.com
IMCO / I Squared Capital · Jul 14, 2026 · imcoinvest.com
IMCO · Apr 9, 2026 · imcoinvest.com
IMCO · Apr 9, 2026 · imcoinvest.com
IMCO · Apr 9, 2025 · imcoinvest.com
IMCO / Scala Data Centers · Sep 23, 2024 · imcoinvest.com
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Wealth Professional · Apr 9, 2026 · wealthprofessional.ca
Chief Investment Officer (ai-CIO) · Apr 9, 2026 · ai-cio.com
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