Canada

The Canadian pension giant is rebuilding following the departures of group head Michael Woolhouse and European lead Nik Morandi.

The firm has added 29 staff this year, including two from British Columbia Investment Management Corporation and Citco Canada.

The asset management giant's chief executive has said the strategy is a 'meaningful extension' for the firm.

Canada Pension Plan Investment Board's recent transaction shows that even at a time of considerable economic uncertainty, big, diversified portfolios can sell – and at a good price.

The London-based appointment comes after the departure of two senior members from the pension giant's team, including its former head Michael Woolhouse.

Managing director Jeff Pentland says the firm wants to start thinking about succession planning now rather than in a decade.

Daniel Dupont has been co-head of secondaries at the investment firm since 2011.

The sale by Canada’s fourth-largest pension comes as it pivots to direct deals and invested a record amount in private equity in the 2019-20 financial year.

The pension made around $500m of secondaries investments in the 12 months to end-March, down almost 90% on the previous fiscal year.

The promotions at the firm include one to partner as it invests its $2bn third fund.