Key Takeaways
- • AIMCo appoints Dev Das as managing director and head of private markets risk, a newly created role, as the C$194.7B Alberta pension fund strengthens its risk management infrastructure.
- • Das brings over a decade of pension risk management experience from CPP Investments, including nearly six years as managing director of investment risk and prior roles developing risk frameworks across private credit, private equity, infrastructure, and real estate portfolios.
- • The appointment follows AIMCo's January 2026 hire of Cecilia Menghini as chief risk officer, signaling the pension fund's strategic priority to enhance investment and enterprise risk oversight across all asset classes.
- • Senior managing director Gary Smith departed AIMCo to lead advisory work, including a principal investment advisor role with the Special Forces Pension Plan's trustee and administrator, highlighting executive mobility within Canada's institutional investment sector.
Summary
Alberta Investment Management Corp., which manages C$194.7B in assets, has appointed Dev Das as managing director and head of private markets risk, filling a newly created position within the organization. Das, a veteran of CPP Investments, announced the appointment via LinkedIn, stating he was "looking forward to being back in investment risk management at AIMCo and within the Maple 8," referencing Canada's largest pension funds.
Das arrives with substantial experience in pension fund risk management. Over more than a decade at CPP Investments, he held multiple senior roles, most recently serving nearly six years as managing director of investment risk. In that capacity, he oversaw enterprise-wide risk management functions. Earlier, Das served as director of investment risk for private assets, where he developed and implemented frameworks for managing investment, non-investment, and liquidity risks across CPP Investments' private credit, private equity, infrastructure, and real estate portfolios. He also previously worked as a senior manager on CPP Investments' credit risk team.
The move represents a mid-career pivot for Das, who spent the past two years as co-founder of Verdnt, an agri-business software platform, before returning to institutional asset management. His appointment aligns with AIMCo's recent emphasis on strengthening risk governance. In January 2026, the pension fund appointed Cecilia Menghini as chief risk officer, tasking her with overseeing both investment and enterprise risk functions—indicating a deliberate organizational restructuring to elevate risk management across the institution.
Concurrently, Gary Smith, AIMCo's senior managing director of client investment strategy and product management, announced his departure. Smith is transitioning to advisory work, beginning with a principal investment advisor role supporting the board and management of the Special Forces Pension Plan's trustee and administrator, SFPP Corp. Before joining AIMCo, Smith spent nearly a decade at the Alberta Teachers' Retirement Fund Board, where he served four years as vice-president of fund risk and strategy.
Das arrives with substantial experience in pension fund risk management. Over more than a decade at CPP Investments, he held multiple senior roles, most recently serving nearly six years as managing director of investment risk. In that capacity, he oversaw enterprise-wide risk management functions. Earlier, Das served as director of investment risk for private assets, where he developed and implemented frameworks for managing investment, non-investment, and liquidity risks across CPP Investments' private credit, private equity, infrastructure, and real estate portfolios. He also previously worked as a senior manager on CPP Investments' credit risk team.
The move represents a mid-career pivot for Das, who spent the past two years as co-founder of Verdnt, an agri-business software platform, before returning to institutional asset management. His appointment aligns with AIMCo's recent emphasis on strengthening risk governance. In January 2026, the pension fund appointed Cecilia Menghini as chief risk officer, tasking her with overseeing both investment and enterprise risk functions—indicating a deliberate organizational restructuring to elevate risk management across the institution.
Concurrently, Gary Smith, AIMCo's senior managing director of client investment strategy and product management, announced his departure. Smith is transitioning to advisory work, beginning with a principal investment advisor role supporting the board and management of the Special Forces Pension Plan's trustee and administrator, SFPP Corp. Before joining AIMCo, Smith spent nearly a decade at the Alberta Teachers' Retirement Fund Board, where he served four years as vice-president of fund risk and strategy.
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