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, 2023 are set out below.

Fixed Income  
TD Asset ManagementCash & Short-Term1999
 Universe Bonds1999
 Real Estate Debt1999
 Long-Term Bonds2007
PenfundPrivate Debt2007
Northleaf Capital PartnersPrivate Debt2016
Brookfield Asset ManagementReal Estate Debt2017
New Mountain CapitalPrivate Debt2018
SLC ManagementLong-Term Bonds2018
BlackstoneReal Estate Debt2019
RBC Global Asset ManagementUniverse Bonds2021
Neuberger BermanPrivate Debt2022
Adams Street PartnersPrivate Debt2022
Barings LLCReal Estate Debt2023
Public Equity  
TD Asset ManagementCanadian2007
 International (EAFE)2011
Connor, Clark & Lunn Investment Management
 International (Emerging Markets)2022
Arrowstreet CapitalGlobal2015
 Global Low Volatility2019
AQR Capital ManagementGlobal2015
Acadian Asset ManagementGlobal Low Volatility2019
 International 2022
RBC Global Asset ManagementCanadian Low Volatility2019
 Canadian Equity2021
Private Equity  
Northleaf Capital Partners 2002
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
TA Associates 2023
Real Estate  
TD Asset ManagementCanadian1999
Brookfield Asset ManagementGlobal2017
Clarion PartnersGlobal2018
Greystar Real Estate PartnersGlobal2018
PGIM Real EstateGlobal2018
Macquarie Infrastructure and Real Assets

Kindle Capital GroupGlobal2009
Brookfield Asset ManagementGlobal2016
Global Infrastructure PartnersGlobal2016
IFM InvestorsGlobal2017
Stonepeak Infrastructure PartnersGlobal2017
DIF Capital PartnersGlobal2023