Investment Managers
TRAF generally does not actively manage any assets internally. Rather, we engage various investment managers to select the individual stocks, bonds and other securities for each asset class on our behalf. Details regarding our investment managers as at December 31, 2022 are set out below.
| Manager | Mandate(s) | Year Engaged |
| Fixed Income | ||
| TD Asset Management | Cash & Short-Term | 1999 |
| Universe Bonds | 1999 | |
| Real Estate Debt | 1999 | |
| Long-Term Bonds | 2007 | |
| Penfund | Private Debt | 2015 |
| Northleaf Capital Partners | Private Debt | 2016 |
| Barings Asset Management | High Yield Debt | 2017 |
| Brookfield Asset Management | Real Estate Debt | 2017 |
| New Mountain Capital | Private Debt | 2018 |
| SLC Management | Long-Term Bonds | 2018 |
| Blackstone | Real Estate Debt | 2019 |
| RBC Global Asset Management | Universe Bonds | 2021 |
| Neuberger Berman | Private Debt | 2022 |
| Adams Street Partners | Private Debt | 2022 |
| Public Equity | ||
| TD Asset Management | Canadian | 2007 |
| US | 2012 | |
| International (EAFE) | 2011 | |
| Connor, Clark & Lunn Investment Management | Canadian |
2013 |
| International (Emerging Markets) | 2022 | |
| Arrowstreet Capital | Global | 2015 |
| International | 2019 | |
| Global Low Volatility | 2019 | |
| AQR Capital Management | Global | 2015 |
| Acadian Asset Management | Global Low Volatility | 2019 |
| International | 2022 | |
| RBC Global Asset Management | Canadian Low Volatility | 2019 |
| Canadian Equity | 2021 | |
| Private Equity | ||
| Northleaf Capital Partners | 2002 | |
| Penfund | 2007 | |
| TorQuest Partners | 2002 | |
| Adams Street Partners | 2003 | |
| Advent International | 2016 | |
| Brookfield Asset Management | 2016 | |
| Clayton, Dubilier & Rice | 2017 | |
| New Mountain Capital | 2017 | |
| Pantheon | 2018 | |
| Oakley Capital | 2022 | |
| Real Estate | ||
| TD Asset Management | Canadian | 1999 |
| Brookfield Asset Management | Global | 2017 |
| Clarion Partners | Global | 2018 |
| Greystar Real Estate Partners | Global | 2018 |
| PGIM Real Estate | Global | 2018 |
| Blackstone | Global | 2022 |
| Infrastructure | ||
| Macquarie Infrastructure and Real Assets | Global |
2004 |
| Kindle Capital Group | Global | 2009 |
| Fiera Infrastructure | Global | 2011 |
| Brookfield Asset Management | Global | 2016 |
| Global Infrastructure Partners | Global | 2016 |
| IFM Investors | Global | 2017 |
| Stonepeak Infrastructure Partners | Global | 2017 |
