Edmonton-based Alberta Investment Management Corp. (AIMCo) is taking a minority stake in a New York-based alternative asset manager DFG Investment Advisers (DFG).

The provincial pension fund announced the deal on Tuesday. The terms of the transaction were not revealed.

DFG is an asset management firm specializing in structured and alternative credit products, which currently serves an institutional client base in North America and Asia. As of Nov. 30, 2015, the DFG managed approximately US$2.0 billion in corporate and structured credit assets.

Operating at arm’s length from the provincial government, AIMCo manages about $85 billion on behalf of 27 pension, endowment and government funds in Alberta. It has been working with DFG since 2009 as part of its fixed income strategy.

“DFG is a trusted manager that has provided AIMCo with strong performance and comprehensive analytical support. DFG’s commitment to their clients aligns with AIMCo’s values and approach to investing. I am pleased that this transaction will deepen the relationship between the two organizations,” says Dale MacMaster, chief investment officer at AIMCo, in a statement.