04/09/2013 05:51 EDT | Updated 06/09/2013 05:12 EDT

AIMCo looks to sell its stake in Place Ville Marie in downtown Montreal

CALGARY - Alberta Investment Management Corp. (AIMCo) is looking to sell its share of a major business complex in Montreal.

The investment manager says the move to part with Place Ville Marie was decided following a number of "regular reviews" it does of its assets.

The property is co-owned with Ivanhoe Cambridge, the real estate subsidiary of the Caisse de depot et placement du Quebec.

AIMCo says it has no plans to leave Quebec, and recently increased its holdings in the province.

The firm invests on behalf of 26 pension, endowment and government funds in Alberta, including the Alberta Heritage Savings Trust Fund.