CPPIB to hire a senior principal in London

The Canadian pension fund giant is looking to recruit a professional to focus on European secondaries and co-investments.

The Canada Pension Plan Investment Board (CPPIB) is looking to hire a senior principal in London to work on secondaries investments and co-investments, according to a job advertisement on the pension fund’s website.

The senior principal will work within CPPIB’s Funds, Secondaries and Co-Investments group and will lead deal teams originating, executing and managing secondaries investments and co-investments.

The primary focus for the position will be Europe within the secondaries and co-investments team, which is a single team responsible for all global markets, excluding Asia.

The CPPIB unit currently manages a portfolio valued at $32 billion with total exposure over $50 billion. The pension completed seven secondaries fund stake deals worth C$1.1 billion ($835 million; €751 million) in the fiscal year 2015.

CPPIB was not immediately available for comment.

Two secondaries executives have left CPPIB this year. The head of secondaries and co-investments in Toronto, Yann Robard, left the investment manager in July, although it’s not clear what his next position will be yet. Earlier in the year, Neal Costello departed CPPIB’s London office to rejoin AlpInvest Partners after two years spent as the pension board’s head of European secondaries and co-investments.

CPPIB was one of the most active non-traditional participants in the secondaries market last year.