Canada Pension Plan Investment Board, the world’s biggest investor in private equity according to the GI 100, has lost another senior member of its secondaries investment team – the third to leave over the course of the past six months.
Louis Choy, the top-ranked professional in Secondaries Investor‘s Young Guns of Secondaries class of 2017, is no longer with the pension giant, according to two sources familiar with the matter. The London-based senior principal no longer appears on CPPIB’s website.
It is unclear where Choy is headed. He could not be reached for comment.
A spokesman for CPPIB declined to comment.
Choy’s departure follows that of Europe lead Nik Morandi, who joined Blackstone’s Strategic Partners group last month, as Secondaries Investor reported. Secondaries head Michael Woolhouse left the pension over the summer to join TPG as a partner where he is launching the firm’s secondaries strategy.
TPG has been talking to potential investors about the launch of its debut fund, which will seek as much as $2 billion, sister publication Buyouts reported this month.
Choy, who was described by a secondaries veteran in the Young Guns list – now Next Gen Leaders – as “fantastic, creative and street-smart well beyond his years”, joined CPPIB in 2013, according to his LinkedIn profile. He was responsible for helping lead European secondaries alongside Morandi and has previous experience at Pantheon.
Secondaries Investor understands that CPPIB is actively looking to recruit for positions across all levels of its teams. The C$456.7 billion ($358 billion; €294 billion) pension’s secondaries unit is led by Dushy Sivanithy who was named to the position in September.