CPP Investments loses head of funds and secondaries

Delaney Brown has overseen a secondaries team, led by Dushy Sivanithy, that joined the buyside of the single-asset market last year with a $1bn deployment target.

CPP Investments, the world’s biggest investor in private equity according to the GI 100, is losing its head of funds and secondaries, affiliate title Private Equity International has learned.

Delaney Brown, a managing director, is stepping down from his role, according to two sources with knowledge of the matter.

It is unclear where he is headed next or when his last day is at the pension manager.

A spokesperson for CPP Investments declined to comment.

Brown leads a team of over 40 professionals across Toronto, London and San Francisco, according to his profile on the investor’s website. He and his team are responsible for investing in funds and secondaries in North America and Europe. Strategies include mega-buyouts, early-stage venture capital, LP and GP-led secondaries and co-investments.

He joined CPP Investments in 2013 after eight years at Hermes GPE, where was head of the Americas.

Caitlin Gubbels has been running the private equity funds team and Dushy Sivanithy, the secondaries team since last year, it is understood.

CPP Investments entered the single-asset GP-led market last year with a $1 billion deployment target figure for 2022, as Secondaries Investor reported. The pension plans to invest between $50 million and $100 million in concentrated deals and will back processes with GPs even if it does not have an existing relationship with the sponsor.

The Toronto-headquartered investor has topped PEI‘s GI 100 of the biggest PE investors since the ranking’s inception. It had $130.5 billion in exposure to the asset class as of the end of 2021, accounting for 30 percent of its total portfolio.