Alberta Investment Management Corp (AIMCo), the C$80 billion ($73.7 billion) provincial pension manager, is steering clear of investments tied to existing roads, bridges and transmission lines as their growing popularity squeezes returns. AIMCo Chief Executive Leo de Bever said on Monday the company is pushing into late-stage venture capital and newly constructed infrastructure as it looks for above-market returns for the pension and provincial government funds it manages.Investment in land or transmission lines "has become commonplace," de Bever told reporters. "The returns on it have started to diminish."De Bever was one of the early pioneers of investing pension funds in infrastructure. While a senior vice-president at Ontario Teachers' Pension Plan in the 1990s, de Bever bought a 25 percent stake in AltaLink, which controls half of Alberta's electricity-transmission network. Warren Buffet's Berkshire Hathaway Energy acquired the company from SNC-Lavalin Group Inc last month for C$3.2 billion, a price that kept pension funds out of the bidding."The price gives ... about a 5 percent return on equity," de Bever said. "To me, that's a little skinny. These assets are trading at very, very high prices."
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A fell by 0.31% or $-600.0/share to $189900.00. In the past year, the shares have traded as low as $163038.00 and as high as $194670.00. On average, 298 shares of BRK-A exchange hands on a given day and today's volume is recorded at 301.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B fell by 0.06% or $-0.07/share to $126.67. In the past year, the shares have traded as low as $108.12 and as high as $129.73. On average, 3177760 shares of BRK-B exchange hands on a given day and today's volume is recorded at 2768432.
SNC-Lavalin Group Inc. (SNC-Lavalin) is an international engineering and construction company. Shares of SNC traded higher by 1.74% or $0.91/share to $53.31. In the past year, the shares have traded as low as $39.47 and as high as $55.44. On average, 406416 shares of SNC.TO exchange hands on a given day and today's volume is recorded at 739619.
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