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, 2018 are set out below.

Manager Mandate(s) Year
Engaged
Fixed Income    
TD Greystone Asset Management Cash & Short-Term 1999
  Universe Bonds 1999
  Real Estate Debt 1999
TD Asset Management 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
Sun Life Investment Management Long-Term Bonds 2018

Public Equity    
TD Asset Management Canadian 2007
  US 2012
  International (EAFE) 2011
QV Investors Canadian 2010
INTECH Investment Management US 2004
Dimensional Fund Advisors US 2007
  International (EAFE) 2007
  International (Emerging Markets) 2007
Connor, Clark & Lunn Investment Management
Canadian
2013
Arrowstreet Capital Global 2015
  International 2019
AQR Capital Management Global 2015

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

Real Estate    
TD Greystone Asset Management Canadian 1999
Brookfield Asset Management Global 2017
Clarion Partners Global 2018
Greystar Real Estate Partners Global 2018
PGIM Real Estate Global 2018

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